IFF Announces Grand Opening of Its Photovoltaic Solar Installation in New Jersey Supporting the Company’s Commitment to Clean, Renewable Energy
“As IFF has moved to embed sustainability throughout our operations and
processes, this solar installation is a physical testament to how
aligning our commitment to sustainability with corporate long-term
strategy helps us achieve Triple Bottom Line benefits,” said
Nicolas Mirzayantz,
The 4,000 kilowatt solar installation has more than 16,000 modules and approximately 1 million solar cells covering 20 acres of IFF property. The solar installation is a major milestone in IFF’s sustainable development and corporate social responsibility initiatives. It aligns with the Company’s values and its corporate strategy, demonstrating commitment to its Sustainability Triple Bottom Line strategy:
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Environmentally: the installation is expected to supply 40
percent of the electricity needs of the
Hazlet, NJ fragrances manufacturing and creative center facilities. The clean energy generated is projected to reduce the site’s carbon dioxide emissions by approximately 3,200 metric tons annually and prevent greenhouse gas emissions equivalent to planting approximately 2,600 acres of trees a year. - Economically: IFF partnered with GeoPeak Energy in the development of a Power Purchase Agreement. This has the double benefit of no capital investment from IFF and projected annual savings in electricity costs.
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Socially: this project was developed through the creativity,
passion and expertise of IFF’s Hazlet Green Team with the support of
corporate leadership and many corporate functions. The solar field is
already a source of pride for the local community, recently receiving
the Corporate Good Neighbor Award from the
Northern Monmouth Chamber of Commerce .
“This installation is the largest onsite photovoltaic solar energy system in the Flavors and Fragrances industry, making IFF a leader in renewable energy in its sector,” said AJ Javan, Managing Partner, GeoPeak Energy. “We are looking forward to continuing our partnership with IFF as we work together to deploy further initiatives to help them meet their eco-efficiency goals.”
About GeoPeak Energy
GeoPeak Energy, headquartered in
About IFF
Source:
International Flavors & Fragrances Inc.
Media
Denise
Gillen, 212-515-7308
Denise.Gillen@IFF.com
or
Investors
Shelley
Young, 212-708-7271
Shelley.Young@IFF.com