ITT Inc. has announced the construction of a photovoltaic lake at its largest factory in Barge, Italy. The lake will be about the size of four Olympic swimming pools and will be made up of approximately 3,000 solar panels. As per the company’s statement, $2.5 million investment is part of ITT’s long-term strategy to become more sustainable.
ITT’s Motion Technology Innovation Center, where the company primarily performs research and development activities to support brake pad technologies, is anticipated to produce 1,065,200 kWh per year, representing 30 per cent of the energy requirements. The lake is predicted to save carbon dioxide emissions by 372.8 tonnes per year, which is the equivalent of around 42,000 gallons of gas. By the end of 2022, the project should be completed.
ITT is based in White Plains, New York, with employees in more than 35 countries and sales in approximately 125 countries. In 2021 and 2022, ITT allocated approximately 10 per cent of its annual capital expenditures toward initiatives that drive energy efficiency, reduce water consumption, and lessen carbon emissions in its operations. These and other initiatives have helped the company reduce its greenhouse gas emissions and the amount of waste sent to landfills.
REGlobal’s Views: In view of increasing energy security and climate change concerns, many companies across the globe are procuring clean power to reduce their energy bills as well as green their portfolios.
