Lenzing advances sustainability goals with investment in renewable energy

Austrian fiber leader, Lenzing, is reinforcing its commitment to environmentally friendly energy by investing in a new wind farm. The collaboration with Austrian electricity producer WLK energy involves purchasing around 13 megawatts of wind power through a 15-year contract starting in 2025.

WLK energy, based in Untersiebenbrunn, is a partner in the wind farm, operating 11 turbines with a total capacity of 45 megawatts. Lenzing’s share equates to the annual consumption of about 10,000 Austrian households. The groundbreaking for the project occurred on November 9.

Christian Skilich, a Lenzing Group board member, highlighted the collaboration as a significant step toward Lenzing’s decarbonization goals. He emphasized that renewable energy generation is a cornerstone of their corporate strategy, providing long-term commercial success and increased independence from the global energy market.

Lenzing’s commitment to renewable energy follows its recent announcement about addressing ongoing challenges, including higher raw material and energy costs and sluggish demand. The company reported a 5.3% decline in revenue for the first three quarters of 2023 compared to the previous year.

Stephan Sielaff, Lenzing Group CEO, outlined measures to boost profitability and cash flow, including a new performance improvement program expected to generate 100 million euros in savings, with around 500 full-time roles expected to be eliminated.