TPI Composites Publishes Annual Sustainability Report Showcasing Its Commitments to Sustainable Operations

Rhea-AI Summary

TPI Composites (TPIC) has released its 2024 sustainability report, showcasing significant progress in environmental and operational initiatives. The wind blade manufacturer achieved notable safety metrics with a Total Recordable Incident Rate of 0.13 and Lost Time Incident Rate of 0.05, both well below industry standards.

Key achievements include the introduction of BladeAssure™, their new quality standard for wind blades, and a 5% waste reduction in production. The company expanded its renewable energy footprint through a Power Purchase Agreement (PPA) in Mexico, powering 100% of regional sites, while maintaining renewable energy sourcing in India and Türkiye facilities.

The report highlights supply chain sustainability, with 94% of critical direct material suppliers aligning with TPI's environmental goals. The company also strengthened employee engagement through Global Values in Motion Awards and successfully met its annual engagement survey score targets.

SCOTTSDALE, Ariz., March 27, 2025 (GLOBE NEWSWIRE) -- TPI Composites, Inc. (Nasdaq: TPIC), today published its 2024 sustainability report highlighting its progress on organizational and global impacts related to sustainability.

Bill Siwek, President, and CEO noted, “We remain committed to helping the world increase renewable energy production. As we advance our goals and strategy to prepare for the expected growth of wind energy, we will continue to be a steadfast industry leader, focused on creating a more sustainable and resilient future for generations to come.”

Highlights of the report include:

• Safety: Continued to enable a culture of safety and remain best in class with incident rates well below industry standards. Results exceeded our safety goals, achieving a Total Recordable Incident Rate (TRIR) of 0.13 and Lost Time Incident Rate (LTIR) of 0.05.
• Quality: Further integrated Quality as a core pillar of our organization through the Quality First and LEAN programs. Introduced BladeAssure™: the Gold Standard process for quality wind blades.
• Associates: Continued to pursue a culture of engagement through the Global Values in Motion Awards and global engagement surveys. Achieved our goal of sustaining or increasing the annual engagement and inclusion survey score.
• Waste: Achieved the 5% waste reduction production rate focused on optimizing production material usage.
• Carbon Neutrality: Secured a power purchase agreement (PPA) in Mexico to power 100% of our sites in the region with renewable energy. Continued to source renewable energy for our India site from a PPA and for one of our Türkiye sites from on-site solar panels.
• Supply Chain: Enhanced collaboration with suppliers by securing commitments from 94% of critical direct material suppliers to align with TPI's sustainability goals.

The report can be found in the Sustainability section of TPI’s website.

About TPI Composites, Inc. 
TPI Composites, Inc. is a global company focused on innovative and sustainable solutions to decarbonize and electrify the world. TPI delivers high-quality, cost-effective composite solutions through long-term relationships with leading OEMs in the wind market. TPI is headquartered in Scottsdale, Arizona and operates factories in the U.S., Mexico, Türkiye, and India. TPI operates additional engineering development centers in Denmark and Germany and global service training centers in the U.S., France, United Kingdom, and Spain.

TPI Investor Relations 
480-315-8742 
investors@tpicomposites.com 

FAQ

What sustainability targets did TPIC achieve in their 2024 report?

TPIC achieved a 5% waste reduction in production, secured 100% renewable energy for Mexico operations, and obtained commitments from 94% of critical suppliers to align with sustainability goals.

How did TPIC perform in safety metrics for 2024?

TPIC exceeded safety goals with a Total Recordable Incident Rate (TRIR) of 0.13 and Lost Time Incident Rate (LTIR) of 0.05, performing well below industry standards.

What is TPIC's BladeAssure™ program introduced in 2024?

BladeAssure™ is TPI Composites' new Gold Standard process for quality wind blades, introduced as part of their Quality First and LEAN programs.

How is TPIC advancing renewable energy use in its global operations?

TPIC secured PPAs for 100% renewable energy in Mexico operations, maintains renewable energy sourcing in India through PPAs, and uses on-site solar panels in one Türkiye facility.

What employee engagement initiatives did TPIC implement in 2024?

TPIC implemented Global Values in Motion Awards and conducted global engagement surveys, meeting their goals for annual engagement and inclusion survey scores.