Novelis builds first onsite solar park

The solar park will supply approximately 12% of its Pieve plant's electricity demand and reduce carbon emissions by 1,450 tons annually

ZURICH, June 22, 2023 /PRNewswire/ -- Novelis Inc., a leading sustainable aluminium solutions provider and the world leader in aluminium rolling and recycling, has announced the construction of its first solar park at the company's production site in Pieve Emanuele, Italy. Local authorities granted their final approval for building the more than 28,000 square meters large solar park, which is scheduled to start generating electricity by end of this year.

With this project, Novelis is investing $2.4 million in decarbonizing its production in Pieve, further supporting the development of low-carbon, sustainable aluminium solutions for the European market.

The solar park´s annual production of around 4,000 MWh will enable the plant to switch a large portion of its energy sources from carbon-intensive to renewable ones while decreasing its reliance on external energy sources. The park will be connected to the Italian national grid, allowing for energy produced outside the plant's operating hours to be used by surrounding communities.

"Investing in renewable energy generation is crucial to decarbonizing our operations and meeting our sustainability goals," said Emilio Braghi, Executive Vice President, Novelis Inc., and President, Novelis Europe. "Further increasing our capabilities to supply aluminium produced with a lower CO2 footprint will also enable us to help our customers reduce their scope 3 emissions and achieve their decarbonization goals."

Located in the south of Milan, Novelis' Pieve plant is an ideal location to build a solar park as it has a large unoccupied area with high sun exposure.

"In addition to the importance of the solar park for Novelis, the project is also an investment in increasing renewable energy generation in the Lombardi region," said Laura Basile, Plant Manager at Novelis Pieve. "I am very proud that our team is part of a company that is leading the way in decarbonizing the aluminium industry while adding value to surrounding communities."

Novelis has the target to reduce its carbon footprint by 30% by 2026, and to achieve carbon neutrality by 2050 or sooner. Besides its strong focus on energy efficiency initiatives and recycling, Novelis will continue to seek opportunities to decarbonize its operations by switching to renewable energy sources.

About Novelis

Novelis Inc. is driven by its purpose of shaping a sustainable world together. We are a global leader in the production of innovative aluminium products and solutions and the world's largest recycler of aluminium. Our ambition is to be the leading provider of low-carbon, sustainable aluminium solutions and to achieve a fully circular economy by partnering with our suppliers, as well as our customers in the aerospace, automotive, beverage can and specialties industries throughout North America, Europe, Asia and South America. Novelis had net sales of $18.5 billion in fiscal year 2023. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminium and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai. For more information, visit novelis.com.

About Novelis Pieve

The Novelis Pieve plant has more than 50 years of experience in aluminium rolling and recycling and focuses on recycling of coated aluminium. Thanks to advanced technologies, the plant is a leader in continuous casting and cold rolling, supplying plain aluminium for a wide range of applications such as Pharmaceutical, Automotive, Closures, Food and Lighting.

Forward-Looking Statements

Statements made in this news release that describe Novelis' intentions, expectations or predictions may be forward-looking statements within the meaning of securities laws. Examples of forward-looking statements in this news release include plans to invest $2.4 million to build a solar park at its Pieve plant, goals to reduce its carbon footprint by 30% by 2026, and to achieve carbon neutrality by 2050 or sooner. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. Important risk factors which could impact outcomes are included under the caption "Risk Factors" in the company's Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended March 31, 2023.

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SOURCE Novelis Inc.