28 March 2023

Iceland Seafood recognises the environmental and social responsibility of increasing the share of renewable energy within its operations

Electricity use accounts for 5% of our total GHG emissions. This year our renewable energy intensity decreased from 0.99% in 2021 to 0.9% in 2022. The difference lies in the variables within the electricity mix from our utility providers in Ireland, Spain, and Argentina. 

In 2022 the energy mix we used was 47% from renewable sources and 11% from nuclear power. In addition to that, 28% comes from natural gas. In total, we have 86% of our energy use comes from sources with zero or low emission factors. This is a clear positive, but we can do even better. We have set the target to increase the share of renewables to 80% in 2026.

To strengthen the success of this target, we have invested in solar panels for our sites in Madrid and Barcelona. The sun already emits more than enough energy to power all energy needs on the planet, and as an added benefit, the sun is a free, clean, and sustainable energy source. It can be used to provide heat and electricity. Given the abundance of solar energy, its reliability, its positive effects on air quality, and its cost-effectiveness, investing in solar panels for our Spanish subsidiaries was an easy choice. 

Ahumados Dominguez in Madrid and Iceland Seafood Ibérica in Barcelona have completed the installation of solar panels, and they will soon start to generate electricity. The solar panels are mounted on the roofs of our buildings, utilizing otherwise unused areas, increasing even more, the benefits of them. In Madrid we’ll be producing about 550 kWh, and in Barcelona we estimate to produce about 440 kWh, in total around 25% - 30% of the electricity needed in our Spanish subsidiaries. 

Our operations in Ireland are currently in the planning phase of installing solar cells. The solar cells in Ireland would cover 18% of the electricity demand, saving around 29 tonnes of CO2 emissions annually.

We are looking forward to turning the new solar panels on and evaluating the positive effects they will have on the Group's overall environmental impact. 

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