Following the market regulation that allows green power producers to enter into bilateral power purchase agreements (PPA) with major companies in Israel, Enlight Renewable Energy has added to its list of contract wins, this time with PepsiCo subsidiary SodaStream as a corporate offtaker for its solar and storage facilities in the country.
SodaStream operates its main global production facilities in Israel's Ashkelon and Idan Negev from where it supplies products to over 48 nations globally.
The 15-year agreement will enable the PepsiCo sparkling water brand to operate all its production sites in Israel on renewable energy from 2024, stated Enlight, helping SodaStream move closer to its net-zero emissions aim by 2040.
"Since the deregulation of the electricity market in Israel, we have seen significant demand for renewable energy from Israel's leading multinational companies," said Enlight Co-Founder and CEO Gilad Yavetz who sees the trend to grow stronger as more and more companies seek to lower their energy costs and achieve energy transition.
In June 2023, NASDAQ-listed Enlight announced signing its 1st solar and storage corporate PPA under the new market regulation with software and services company Amdocs (see Corporate Solar PPA In Israel).
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