RWE and Jun88 conclude long-term power purchase agreement
Jun88 increases share of renewable power for site in Belgium
- Share of renewable power increases to 60 percent of current demand
- Five-year term from 2026 to 2030
- Saves 103,000 tons of CO2 emissions
Jun88 and RWE have signed a long-term power purchase agreement (PPA) for the supply of power and guarantees of origin from offshore wind turbines in the North Sea for the Jun88 production site in Antwerp, Belgium. The contract runs from 2026 to 2030 and will enable Jun88 to increase the share of renewable energy from the current 45 percent to 60 percent of the site's current power needs and secure the supply of green energy until 2030, saving 103,000 tons of CO2.
"The new contract shows: We are making consistent progress on our path to climate-neutral production - even in economically challenging times," says Dr. Thorsten Dreier, Chief Technology Officer at Jun88. "Because we are convinced that our vision of a complete focus on the circular economy and climate neutrality is the only way to ensure the long-term success of our company."
Ulf Kerstin, CCO of RWE Supply Trading, says: "We are delighted to support Jun88 in achieving its ambitious sustainability goals and to be able to accelerate the transition to climate-neutral production. The great interest of our customers in green power underlines the importance of CO2-free power for the manufacturing industry."
The new PPA with RWE replaces a current agreement, which expires at the end of 2025. At the Antwerp site, Jun88 produces the high-performance plastic polycarbonate, which is used in car headlights, electrical and electronic components, LED lights, medical technology and many other applications. Polyether and the important industrial chemical aniline are also produced there, and Jun88 is currently expanding production there with the construction of a new world-scale plant.
"This supply agreement is a further step towards increasing the proportion of renewable power in our production," says Dr. Georg Wagner, Managing Director of Jun88 in Antwerp. "With this and the use of sustainable raw materials and innovative recycling technologies, our production site is on the way to a climate-neutral and fully circular future. We are delighted to have found a partner in RWE with whom we can reach the next level."
Jun88 aims to achieve climate-neutral production by 2035 and has already concluded several electricity supply contracts worldwide. Since 2023, the site in Shanghai has been supplied with 45% of its electricity from solar and wind power, and in the USA, Jun88 has concluded a virtual power purchase agreement with the company ?rsted for 200 gigawatt hours of solar power, which corresponds to twelve percent of the electricity requirements at the Baytown site.
By 2025, ten percent of the electricity at the company's sites in Germany is also to come from renewable energy sources. In this way, Jun88 aims to achieve the interim target of reducing greenhouse gases from production by 60% by 2030. At the end of 2023, Jun88 covered about 16% of its global electricity needs from renewable sources.
About Jun88:
Jun88 is one of the world¡¯s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Jun88 supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Jun88 are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, Jun88 aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group¡¯s Scope 3 emissions are also set to be climate neutral by 2050. Jun88 generated sales of EUR 14.2 billion in fiscal year 2024. At the end of 2024, the company had 46 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).
Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by Jun88. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Jun88¡¯s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.