Carnival Corporation Lights the Way for Solar Energy at Port of Barcelona

Rhea-AI Summary

Carnival (NYSE:CCL, LSE:CCL, NYSE:CUK) has announced the installation of solar panels at two of its Port of Barcelona cruise terminals. The project, a first for the port, will supply over 100% of the energy needed for daily operations, reducing overall electricity consumption. The 1,350 panels at Palacruceros (Terminal D) and Helix Cruise Center (Terminal E) will produce over 866,000 kilowatt-hours (kWh) annually.

The project, set to be completed by the end of 2024, will generate a 32% surplus power at Helix Cruise Center, which can be fed back into the local energy grid. In total, over 245,000 kWh of surplus power will be generated annually, equivalent to the average consumption of 60 households. This initiative is part of Carnival 's broader strategy to integrate renewable energy across its global ports and destinations portfolio, following a similar project at Amber Cove Cruise Center in the Dominican Republic.

Positive

• Solar panel installation will supply over 100% of energy needed for daily operations at two Barcelona cruise terminals
• Project will produce over 866,000 kilowatt-hours (kWh) annually
• 32% surplus power at Helix Cruise Center can be fed back into the local energy grid
• Over 245,000 kWh of surplus power will be generated annually, equivalent to 60 households' consumption
• Initiative aligns with Carnival 's strategy to integrate renewable energy across its global ports

Negative

• None.

Insights

Financial Analyst

The solar panel installation at Carnival 's Barcelona terminals represents a significant long-term cost-saving initiative. By generating 866,000+ kWh annually, the company will drastically reduce its electricity expenses. The 32% surplus energy from Helix Cruise Center alone can be sold back to the grid, creating a new revenue stream. While the initial investment isn't disclosed, such projects typically have a 5-7 year payback period, after which they generate pure savings. This move aligns with the growing trend of corporations investing in renewable energy to hedge against rising utility costs and demonstrates Carnival's commitment to sustainable operations, potentially attracting environmentally conscious investors and customers.

Environmental Sustainability Expert

Carnival 's solar initiative in Barcelona is a commendable step towards reducing its carbon footprint. The project's ability to supply over 100% of the terminals' energy needs showcases its efficiency. The 245,000 kWh surplus power fed back into the grid annually is particularly impressive, equivalent to powering 60 households. This initiative, combined with the Amber Cove solar farm, signals a broader strategy to integrate renewables across Carnival's global ports. However, it's important to note that while significant for port operations, this represents a small fraction of the company's overall environmental impact. Cruise ships' emissions during voyages remain a much larger concern. Nonetheless, this project sets a positive precedent for the industry and could inspire similar initiatives at other ports worldwide.

Cruise Industry Analyst

This solar project is a strategic move by Carnival to enhance its environmental credentials in a key market. Barcelona, receiving over one million Carnival guests annually, is a important hub for the company. By pioneering renewable energy use in this high-profile port, Carnival is positioning itself as an industry leader in sustainability. This could provide a competitive edge in attracting environmentally conscious travelers, particularly in the European market where green initiatives are highly valued. The partnership with local authorities and businesses also strengthens Carnival's relationship with the host city, potentially leading to favorable treatment in future negotiations. While the direct financial impact may be , the reputational benefits and potential for replication across other ports make this a noteworthy development for the company and the broader cruise industry.

Solar panel project to reduce in-port energy consumption and advance company's broader renewable energy efforts across its global ports and destinations portfolio

MIAMI, FL / ACCESSWIRE / September 12, 2024 / Carnival Corporation & plc (NYSE:CCL)(LSE:CCL)(NYSE: CUK), the world's largest cruise company, today announced solar panel installations are underway for two of its Port of Barcelona cruise terminals. The roof-mounted solar panels, a first for the port, are capable of supplying more than 100% of the energy needed to power daily operations and will reduce overall electricity consumption.

Carnival Corporation and the Port of Barcelona teamed up with a Catalonia-based solar provider to install the 1,350 panels at Palacruceros (Terminal D) and Helix Cruise Center (Terminal E), which will collectively produce 866,000-plus kilowatt-hours (kWh) per year. Work to install the solar panels began in July at Palacruceros and the full project across both terminals is slated for completion by the end of 2024.

Additionally, the surplus power generated by the solar panels, estimated at 32% for Helix Cruise Center alone, can be routed back into the local energy grid to improve the overall utilization of renewable energy generation in the port. In total, over 245,000 kWh of surplus power will be fed into the grid each year - equivalent to the average annual consumption of 60 households.

This transformative project builds on Carnival Corporation's development of a new solar panel farm unveiled earlier this year at its Amber Cove Cruise Center in the Dominican Republic, one of eight leading port destinations and exclusive islands owned and operated by the company. Together, these projects mark the beginning of the company's wider efforts to integrate renewable energy across its entire ports and destinations portfolio.

"The shift to renewable energy is an integral part of our global strategy to reduce greenhouse gas emissions and minimize our environmental footprint at the beautiful destinations we visit," said Karin Plettner Rutishauser, vice president of global ports and destinations strategy for Carnival Corporation. "By partnering with Port of Barcelona, the solar panels at our terminals will significantly contribute to the production of clean energy, benefiting both the local community and our over one million cruise guests who enjoy this vibrant city each year."

"Through this latest project with Carnival Corporation, we are laying the foundation for our new energy model based on renewable energy, energy storage and a smart electricity grid," said Lluís Salvadó, president of Port of Barcelona. "Sustainability has always been our main driving force and these efforts have proudly put us at the forefront of generating environmental and economic prosperity in our great port, city and region."

As one of the most important trade ports in the Mediterranean for more than 2,000 years, the Port of Barcelona has long positioned the city as a leader for the future of environmental innovation. This includes being the first cruise port in the Mediterranean with facilities to supply cruise ships with liquefied natural gas and implementing air quality improvement plans to effectively reduce emissions from port activities.

Carnival Corporation and eight of its cruise lines - AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, Princess Cruises, Seabourn and P&O Cruises (UK) - visit Barcelona throughout the year, with all brands operating full or partial homeporting.

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This release may include claims related to our greenhouse gas emissions reductions, goals, initiatives, accomplishments, and progress reports. Supporting data for such greenhouse gas emissions claims, including data verification information, is published in our Sustainability Reports on carnivalcorp.com/sustainability on an annual basis.

About Carnival Corporation & plc
Carnival Corporation & plc is the largest global cruise company, and among the largest leisure travel companies, with a portfolio of world-class cruise lines - AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises (Australia), P&O Cruises (UK), Princess Cruises, and Seabourn.

Additional information can be found on www.carnivalcorp.com, www.aida.de, www.carnival.com, www.costacruise.com, www.cunard.com, www.hollandamerica.com, www.pocruises.com.au, www.pocruises.com, www.princess.com, and www.seabourn.com.

For information on Carnival Corporation's industry-leading sustainability initiatives, visit www.carnivalsustainability.com.

Carnival Corporation Media Contacts:

Jody Venturoni, Carnival Corporation, jventuroni@carnival.com

Ellie Beuerman, LDWW, ellie@ldww.co

Port of Barcelona Media Contacts:

Press Office, comunicacioport@portdebarcelona.cat

Carnival Corporation and the Port of Barcelona teamed up with a Catalonia-based solar provider to begin installing 1,350 panels at Palacruceros (Terminal D) and Helix Cruise Center (Terminal E).

View additional multimedia and more ESG storytelling from Carnival Corporation & plc on 3blmedia.com.

Contact Info:
Spokesperson: Carnival Corporation & plc
Website: https://www.3blmedia.com/profiles/carnival-corporation-plc
Email: info@3blmedia.com

SOURCE: Carnival Corporation & plc

View the original press release on accesswire.com

FAQ

How many solar panels is Carnival (CCL) installing at the Port of Barcelona?

Carnival is installing 1,350 solar panels across two cruise terminals at the Port of Barcelona: Palacruceros (Terminal D) and Helix Cruise Center (Terminal E).

When will Carnival (CCL) complete the solar panel project in Barcelona?

The solar panel project at the Port of Barcelona is slated for completion by the end of 2024.

How much energy will the solar panels generate at Carnival 's (CCL) Barcelona terminals?

The solar panels will collectively produce over 866,000 kilowatt-hours (kWh) per year at Carnival 's two Barcelona cruise terminals.

What percentage of surplus power will be generated at Carnival 's (CCL) Helix Cruise Center in Barcelona?

The Helix Cruise Center in Barcelona is estimated to generate 32% surplus power, which can be routed back into the local energy grid.