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4-Traders Homepage  >  Equities  >  Nyse  >  Procter & Gamble Company    PG

PROCTER & GAMBLE COMPANY (PG)
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Powered by Partnership: Procter & Gamble and Constellation Complete 50-Megawatt Renewable Energy Plant

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09/28/2017 | 11:01am CEST

Release date- 27092017 - ALBANY, Ga - The Procter & Gamble Company (NYSE:PG) and Constellation, a subsidiary of Exelon Corporation (NYSE: EXC), today announced the completion of a 50-megawatt biomass-fueled combined heat and power plant located at one of P&G's largest U.S. facilities. Constellation owns and operates the plant, which supplies steam to P&G's Albany, GA paper manufacturing facility and generates electricity for the local utility, Georgia Power. Additionally, steam from the plant will be used to power an 8.5-megawatt steam-to-electricity generator at the Marine Corps Logistics Base in Albany, helping the base increase its energy security and utilize renewable sources to meet energy demands.

P&G has made a commitment to reduce energy consumption and obtain 30 percent of its energy from renewable sources by 2020. The biomass-fueled plant provides P&G with 100 percent of the steam energy used to manufacture Bounty paper towels and Charmin toilet tissue at that location. Along with P&G's recent wind energy project in Texas, this plant nearly doubles the Company's use of renewable energy. Together, these renewable projects get P&G nearly two-thirds of the way to its goal.

'By powering our Bounty and Charmin plant with renewable energy, consumers can feel good about putting these products in their carts,' said Stefano Zenezini, P&G Vice President Product Supply and Sustainability. 'We are using our innovative capabilities and those of our external partners to drive meaningful change that is good for the environment and good for business.'

The plant's fuel supply will come from locally abundant biomass that would otherwise have been left to decay, burned, or potentially sent to landfill, including discarded tree tops, limbs, branches and scrap wood from local forestry operations, crop residuals, such as pecan shells and peanut hulls, and mill waste, such as sawdust. For more about the process, check out this video.

'Constellation is proud to support P&G, Georgia Power and the Marine Corps Logistics Base in Albany toward achieving their renewable energy objectives,' said Gary Fromer, Constellation Senior Vice President of Distributed Energy. 'Increasingly, customers and communities are looking to alternatives that provide greater flexibility in managing energy costs, improving reliability and achieving environmental objectives.'

Georgia Power's purchase of energy from Constellation is part of its multifaceted strategy to encourage and cultivate renewable energy sources in Georgia and was made possible under a program co-developed with, and approved by, the Georgia Public Service Commission.

'We are proud to work with our customers, including leading Georgia businesses such as Procter & Gamble, to use innovative approaches to grow renewable resources,' said Wilson Mallard, director of renewable development for Georgia Power. 'This Albany biomass project brings many benefits for our state and nation, and we expect it will contribute to our state's diverse energy resources for years to come.'

The plant's development and construction also included collaboration with the Albany-Dougherty Economic Development Commission, local city, county and state leaders, and energy companies. DCO Energy, which provided engineering, procurement and construction services, holds a small stake in the plant. Constellation's affiliate, Exelon Generation, operates and maintains the plant, employing approximately 35 people.

About Procter & Gamble

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always, Ambi Pur, Ariel, Bounty, Charmin, Crest, Dawn, Downy, Fairy, Febreze, Gain, Gillette, Head & Shoulders, Lenor, Olay, Oral-B, Pampers, Pantene, SK-II, Tide, Vicks, and Whisper. The P&G community includes operations in approximately 70 countries worldwide. Please visit http://www.pg.com for the latest news and information about P&G and its brands. To learn more about P&G's sustainability goals visit: http://www.pg.com/sustainability.

About Constellation

Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves more than 2.2 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NYSE: EXC), the nation's leading competitive energy provider, with 2016 revenues of approximately $31.4 billion, and more than 35,500 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.

Contact:

Constellation

Kelly Biemer, 410-470-9700

or

Procter & Gamble

Julie deSylva, 513-780-0006

(c) 2017 Electronic News Publishing -, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
EXELON CORPORATION -0.57% 42.15 Delayed Quote.6.95%
GEOA POWE5B77 0.24% 24.85 Delayed Quote.-2.97%
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Financials ($)
Sales 2018 66 877 M
EBIT 2018 14 557 M
Net income 2018 10 611 M
Debt 2018 28 363 M
Yield 2018 3,55%
P/E ratio 2018 20,40
P/E ratio 2019 17,88
EV / Sales 2018 3,41x
EV / Sales 2019 3,42x
Capitalization 199 B
Chart PROCTER & GAMBLE COMPANY
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Procter & Gamble Company Technical Analysis Chart | PG | US7427181091 | 4-Traders
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Mean consensus HOLD
Number of Analysts 22
Average target price 81,0 $
Spread / Average Target 2,2%
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NameTitle
David S. Taylor Chairman, President & Chief Executive Officer
Jon R. Moeller Vice Chairman & Chief Financial Officer
Kathleen B. Fish Chief Research, Development & Innovation Officer
Terrence J. Porter Vice President-Global Research & Development
Javier Polit Chief Information Officer
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