As a major step toward fulfillment of its pledge to the RE100 initiative, which focuses on accelerating the transition to zero carbon grids at global scale, Crown Holdings, Inc. has signed a 15-year Virtual Power Purchase Agreement (VPPA) with Longroad Energy to utilize wind power in all of its U.S. and Canadian beverage can plants starting on July 1, 2020. The new program will rely on a wind farm based in Knox County, Texas to generate over 400,000 MWhs of electricity. The renewable power will offset 100% of the energy usage within Crown's U.S. and Canadian beverage plants, which account for over 20% of the Company's global Scope 2 greenhouse gas emissions. This transition serves as the first phase of Crown's RE100 plan, which anticipates that the Company will run 100% renewable electricity by 2050. The RE100 initiative is led by The Climate Group and CDP. One of the first milestones on the Company's journey will be achieving 30% renewable electricity by 2020. To accomplish this goal, Crown is exploring renewable options in other countries, including Mexico, which runs on a different electricity grid than the U.S. and Canada and would serve as the final portion of a complete North American renewable energy program by RE100 standards. The Company's next goal will be reaching 50% renewable energy utilization by 2030. Click Read More below for additional information.
Containerboard production was up 5.1 percent compared to October 2016. The month-over-month average daily production compared to September 2017 was 3.1 percent higher. The containerboard operating rate for October increased from 95.9 percent to 101.3 percent, which was 6 percentage points higher than October of last year. Year-to-date production of containerboard for export is up 3.5 percent, with the October volume surging 16.2 percent above the same month last year.