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UFlex inks agreement for supply of renewable power for its packaging films plant in Karnataka
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Monday, 29 April, 2024, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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UFlex Limited has entered into a long-term Power Purchase Agreement (PPA) with Amplus Phoenix Private Limited to source renewable power under a group captive power policy. The plant will provide solar power to UFlex’s Packaging Films manufacturing plant in Dharwad, Karnataka. In line with UFlex's goal of being net zero by 2035, or earlier, this move will strategically reduce its carbon emissions by app.
The facility is home to a state-of-the-art packaging films plant, commissioned in Q2, 2022. Equipped with a BOPET line, a CPP line, and plasma-enhanced high-barrier metallizers, with a combined capacity of 93,000 TPA, the facility is an addition to UFlex’s global manufacturing footprint — spread across nine countries.
This agreement signifies UFlex's commitment to adopting renewable energy for its operations and fostering a sustainable future. This strategic agreement, under the group's captive power policy, aims to play a pivotal role in reducing the company's greenhouse gas emissions and is aligned with UFlex's overarching vision for sustainability.
Apoorvshree Chaturvedi, director of Global Operations, UFlex Group, affirmed that the company's investment in renewable energy is a crucial and bold move toward reducing its carbon footprint and fulfilling its commitment to environmental stewardship. He said, “UFlex has a robust and well-defined energy optimisation transition strategy for reducing emissions. The organisation believes that every company is responsible for adopting sustainable practices that are beneficial for the environment, long-term business success, and stakeholder value. UFlex is a pioneer in recycling multi-layer mixed plastics and aseptic packaging waste and has taken the onus to share its knowledge and expertise with corporations and economies worldwide. The investment in renewable energy is a significant and positive step in the right direction for both the business and the planet, shaping a brighter and more sustainable future.”
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