IVE makes the switch to renewable electricity

It’s official! As of 1st Jan 2024, we are delighted to announce that IVE Group has made the switch to renewable electricity. The long-term power-purchase agreement with energy company, Iberdrola Australia will see IVE procure its production energy load from renewable sources.

The agreement will be supported by Flyers Creek Wind Farm and Iberdrola’s existing fleet of renewable assets. The agreement covers IVE Group’s 15 production sites across the Eastern seaboard.  Flyers Creek Wind Farm is located approximately 20 kilometres south of Orange in the Central West region of New South Wales.  The farm is in final stages of development and will comprise 38 wind turbines with an installed capacity of 145-Megawatts. Once operational later this year, the site will generate approximately 450 gigawatt hours of electricity per year.

Iberdrola Australia’s Chairman and Managing Director, Ross Rolfe, AO, said: “We are delighted to be supporting IVE as they deliver their ambitious sustainability objectives. By voluntarily transitioning to renewable energy, IVE is leading by example and demonstrating that a brighter future is possible for Australia’s environment and communities.”

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Matt Aitken, Chief Executive Officer of IVE Group, said of the agreement: “This is one of the first and most important steps in the roll-out of IVE’s ESG strategy. Iberdrola are industry leaders in this space and we’re rapt to be partnering with them to ensure our operations are powered by renewable electricity, both today and long into the future.”

IVE’s move to renewable electricity underpins our long-term commitment to more sustainable production practices and also forms part of our wider Environmental, Social and Governance (ESG) strategy. The strategy focuses around three key focus pillars – Responsible Operations and Supply Chain, People and Community and Innovative Customer Solutions. As part of the outlined targets this will support our goal to move to an initial 50% renewable electricity goal by 2025, ahead of our longer-term commitment to transition to 100% renewable electricity by 2030.

IVE also plans to achieve a 25% reduction in Scope 1 and 2 emission intensity (based on CY2021 baseline). Click here to learn more.