Whirlpool Corporation to reach 100 percent renewable electricity for U.S. plant operations

Rhea-AI Summary

Whirlpool Corp. (NYSE: WHR) announced a second Virtual Power Purchase Agreement (VPPA) with ENGIE North America, committing to 53 megawatts of renewable wind energy over 12 years. This initiative supports Whirlpool's goal to achieve Net Zero emissions in its operations by 2030, offsetting emissions equivalent to removing 30,633 gasoline vehicles from the road each year. The agreement, expected to be operational in 2023, aligns with Whirlpool's sustainability strategy, building on its previous investments in renewable energy and energy efficiency.

Positive

• Second VPPA with ENGIE to procure 53 megawatts of renewable wind energy.
• Supports commitment to Net Zero emissions by 2030.
• Offsets emissions equivalent to removing 30,633 gasoline vehicles annually.
• Aligns with broader sustainability initiatives and energy efficiency upgrades.

Negative

• None.

BENTON HARBOR, Mich., Sept. 21, 2022 /PRNewswire/ -- Whirlpool Corp. (NYSE: WHR) announced that it has entered into a second wind Virtual Power Purchase Agreement (VPPA) to accelerate progress towards its commitment to reach Net Zero (scopes 1 and 2) emissions in its plants and operations by 2030. This latest agreement with ENGIE North America will represent 53 megawatts of clean, renewable wind energy over 12 years, equivalent to:

• Removing 30,633 gasoline-powered passenger vehicles from the roads each year, or
• displacing 329,151 barrels of oil consumed each year, or
• providing 27,662 homes' electricity use for one year.*

To meet its 2030 goals, Whirlpool Corp. is maximizing previous investments in onsite renewable energy and making energy-efficient upgrades across its manufacturing plants while also investing in off site renewable energy opportunities through Virtual Power Purchase Agreements that provide clean, renewable energy to the grid for its consumers.

"Building on our long history of improved environmental performance, Whirlpool Corporation is accelerating our commitment to sustainable operations through investments like these VPPA agreements in off-site renewable energy, manufacturing plant retrofits, and ongoing energy, water, and waste reduction projects," said Sr. VP of Corporate Relations and Sustainability Pam Klyn.

"This project is an important part of our ongoing sustainability initiatives, adding clean, renewable energy to the electrical grid while helping to reduce the company's carbon footprint," said Whirlpool Corp. Director of Sustainability Ron Voglewede. "When this VPPA with ENGIE becomes fully operational in 2023, we expect to offset 100 percent of our U.S. plant electricity emissions."

In February of 2022, Whirlpool Corp. joined the U.S. Department of Energy's (DOE) Better Climate Challenge, targeting a reduction of greenhouse gas emissions by 50 percent within 10 years and collaborating with the DOE and other organizations to cut carbon and save energy. To address this challenge, Whirlpool Corp. continues to invest in sustainable operations as aligned with its overall ESG strategy and Climate Transition Plan.

*Greenhouse Gas Equivalency Calculator | U.S. EPA.

About Whirlpool Corporation

Whirlpool Corporation (NYSE: WHR) is committed to being the best global kitchen and laundry company, in constant pursuit of improving life at home. In an increasingly digital world, the company is driving purposeful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and Yummly. In 2021, the company reported approximately $22 billion in annual sales, 69,000 employees and 54 manufacturing and technology research centers. Additional information about the company can be found at WhirlpoolCorp.com.

 

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SOURCE Whirlpool Corporation

FAQ

What is Whirlpool Corp.'s goal for emissions reductions by 2030?

Whirlpool Corp. aims to reach Net Zero emissions in its plants and operations by 2030.

What is the significance of Whirlpool's second VPPA with ENGIE?

The second VPPA represents 53 megawatts of renewable wind energy, aiding in Whirlpool's sustainability efforts.

How does the VPPA impact Whirlpool's carbon footprint?

The VPPA is expected to offset 100 percent of Whirlpool's U.S. plant electricity emissions when fully operational in 2023.

What previous actions has Whirlpool taken towards sustainability?

Whirlpool has made energy-efficient upgrades and invested in onsite renewable energy before this VPPA.

How does Whirlpool's VPPA relate to its Better Climate Challenge commitments?

The VPPA supports Whirlpool's commitment to cut greenhouse gas emissions by 50 percent within 10 years.