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Spirit AeroSystems Converts to Renewable Energy in Kansas
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Spirit AeroSystems announced its transition to 100% wind-generated electricity at its Kansas headquarters. This initiative promotes environmental responsibility and aims for a 30% reduction in greenhouse gas emissions by 2030. The Wichita facility, employing around 10,000 staff, will source its wind power from a local wind farm involving 62 turbines and increase its global renewable electricity percentage to 75%. The project supports operational efficiency and competitiveness, aligning with Spirit's sustainability goals, while also benefiting the local economy through job creation.
Positive
Transition to 100% wind-generated electricity supports sustainability goals.
Increases global renewable electricity percentage to 75%.
Aims for a 30% reduction in greenhouse gas emissions by 2030.
Enhances operational efficiency and competitiveness.
Potential for job creation and economic support in the local community.
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None.
WICHITA, Kan.--(BUSINESS WIRE)--
Spirit AeroSystems, Inc. (“Spirit” or “Spirit AeroSystems”), a wholly owned subsidiary of Spirit AeroSystems Holdings, Inc. (NYSE: SPR), today announced the conversion to 100% wind-generated electricity at the company’s headquarters in Kansas, USA. This major energy transition is one of a number of initiatives accelerating Spirit’s transformation to more environmentally responsible operations.
“Harnessing a local renewable and reliable resource dramatically reduces our corporate carbon emissions, a key priority for Spirit in achieving our sustainability goals,” said Tom Gentile, president and CEO of Spirit AeroSystems. “Improving both our environmental and operational performance builds competitiveness in our business, which means we can continue to support our local economy and secure our long-term future in Kansas.”
The Spirit Wichita facility employs approximately 10,000 people and has 12 million square feet of manufacturing capacity where it builds fuselages and other aerostructures for Boeing, Airbus, and Defense contractors. The conversion to Wichita’s facility increases Spirit’s global renewable electricity percentage to 75%.
“Renewable energy is a key component of our strategy to achieve a 30% absolute reduction in Greenhouse Gas emissions from our operations by 2030,” said Chris Ladwig, senior director & sustainability leader at Spirit AeroSystems. “Transitioning our Wichita site to 100% wind electricity greatly accelerates our ability to meet this target.”
Spirit Wichita’s wind power will come from 62 wind turbines that are part of a wind farm called Flat Ridge 3 in Kingman County that is owned and operated by a subsidiary of American Electric Power. Spirit then has an agreement with Evergy which enables the company to purchase clean electricity at a competitive cost via a long-term contract, significantly increasing the operational efficiency of its largest global site.
“Abundant wind energy resources in our area provide great opportunities to serve Evergy customers with affordable, clean energy,” said Chuck Caisley, Evergy senior vice president and chief customer officer. “Wind energy development also brings economic investment and jobs to communities near wind farms.”
“Our Flat Ridge 3 wind project adds more clean energy to AEP’s nearly 1,600 megawatt portfolio of competitive wind, solar and storage assets,” said Greg Hall, executive vice president of Energy Supply, AEP. “This project not only supplies renewable energy to Evergy customers, but also provides valuable economic benefits, such as tax revenue and jobs, to communities in Kingman County.”
Spirit AeroSystems is one of the world’s largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company’s core products include fuselages, integrated wings and wing components, pylons, and nacelles. We are leveraging decades of design and manufacturing expertise to be the most innovative and reliable supplier of military aerostructures, and specialty high-temperature materials, enabling warfighters to execute complex, critical missions. Spirit also serves the aftermarket for commercial and business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the U.S., U.K., France, Malaysia and Morocco. More information is available at www.spiritaero.com.
About AEP’s Competitive Operations
American Electric Power (Nasdaq: AEP) subsidiaries AEP Renewables, AEP Energy, AEP Energy Partners, and OnSite Partners deliver a wide array of innovative competitive energy solutions nationwide. With a commitment to a clean energy future, AEP’s competitive businesses currently own over 1,900 megawatts of wind, solar and energy storage on both a utility scale and distributed scale basis. Solving energy problems for customers, AEP Renewables and its affiliates own and operate over 90 behind-the-meter projects in 26 different states and have an active development pipeline across the U.S. As a competitive retail and wholesale electricity and natural gas supplier, AEP Energy serves over 700,000 residential and business customers in 28 service territories in six states and Washington, D.C. As one of the largest wholesale suppliers in the country, AEP Energy Partners specializes in offering customized wholesale power supply products based on the specific needs of customers’ electric systems within ERCOT, MISO, PJM and SPP. AEP Energy Partners also sells renewable energy through long-term contracts with utilities, electric cooperatives, municipalities and corporate customers. Based in Columbus, Ohio, Chicago, Illinois and San Diego, California, AEP’s family of competitive companies takes pride in making it easy for customers and partners to buy, manage and use energy. For more information, visit www.aeprenewables.com.
About Evergy, Inc.
Evergy, Inc. (NYSE: EVRG) serves approximately 1.6 million customers in Kansas and Missouri. We were formed in 2018 when long-term local energy providers KCP&L and Westar Energy merged. We generate nearly half the power we provide to homes and businesses with emission-free sources. We support our local communities where we live and work, and strive to meet the needs of customers through energy savings and innovative solutions.
This press release contains "forward-looking statements" that may involve many risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "aim," "anticipate," "believe," "could," "continue," "estimate," "expect," "goal," "forecast," "intend," "may," "might," "objective," "outlook," "plan," "predict," "project," "should," "target," "will," "would," and other similar words, or phrases, or the negative thereof, unless the context requires otherwise. These statements reflect management's current views with respect to future events and are subject to risks and uncertainties, both known and unknown. Our actual results may vary materially from those anticipated in forward-looking statements. We caution investors not to place undue reliance on any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in such forward-looking statements and that should be considered in evaluating our outlook include, without limitation, the impact of the COVID-19 pandemic on our business and operations; the timing and conditions surrounding the full worldwide return to service (including receiving the remaining regulatory approvals) of the B737 MAX, future demand for the aircraft, and any residual impacts of the B737 MAX grounding on production rates for the aircraft; our reliance on Boeing for a significant portion of our revenues; our ability to execute our growth strategy, including our ability to complete and integrate acquisitions; our ability to accurately estimate and manage performance, cost, and revenue under our contracts; demand for our products and services and the effect of economic or geopolitical conditions in the industries and markets in which we operate in the U.S. and globally; our ability to manage our liquidity, borrow additional funds or refinance debt; and other factors disclosed in our filings with the Securities and Exchange Commission. These factors are not exhaustive and it is not possible for us to predict all factors that could cause actual results to differ materially from those reflected in our forward-looking statements. These factors speak only as of the date hereof, and new factors may emerge or changes to the foregoing factors may occur that could impact our business. Except to the extent required by law, we undertake no obligation to, and expressly disclaim any obligation to, publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
