Message from the CEO
Driving the Renewable Energy Transition
At TPI, our focus remains on bringing quality, innovative, and sustainable solutions to market. The role we play in the energy transition cannot be understated, especially as the world experiences firsthand the impacts of climate change. The energy transition is one of the world’s greatest challenges and TPI has emerged as a driving force, resulting from our unwavering dedication to TPI’s mission of decarbonizing and electrifying the world.
Governments remain committed to reducing emissions and transitioning to independent, renewable, and clean energy sources through landmark legislation such as the Inflation Reduction Act (IRA) and REPowerEU. We are well positioned to enable the anticipated growth from such policies and have entered into multi-year customer agreements to support the implementation of renewable and reliable energy. In 2023, TPI produced blades rated to provide 11,382 Megawatts which accounts for 33% of all the onshore wind market share, excluding China. We have established a dedicated global team of more than 12,300 associates who are focused on TPI’s stakeholder commitments while adhering to our Core Values of Safety, Operational Excellence (Quality), Commitment, Integrity, and Leadership.
Our 2023 Progress
Safety: During 2023, we made great progress to enable a culture of safety and remain best in class. Our safety program consistently outperforms industry standards with our 2023 Total Recordable Incident Rate (TRIR) and Lost Time Incident Rate (LTIR) well below industry rates reported by the U.S. Bureau of Labor Statistics. In 2023, we achieved our goals for TRIR and LTIR, which were set to remain below 0.37 and 0.19 respectively.
Associates: We continue to pursue a culture of engagement through our Global Values in Motion Awards and global engagement surveys. We have fully embraced our IDEA (Inclusion, Diversity, Equity, and Awareness) program and three of our regions were externally recognized with awards for their commitments to diversity and inclusion.
Waste: As a continuation of our waste reduction efforts, we achieved our 5% reduction goal in production waste rate. All our regions have waste reduction projects focused specifically on optimizing production material usage.
Carbon Neutrality: We made great strides to reduce our scope 2 emissions and power our sites with renewable energy. At our locations in Türkiye we invested in two wind turbines and added more solar panels. In India, we signed a power purchase agreement (PPA) to boost the utilization of renewable energy at the site.
Supply Chain: Focusing on our supplier sustainability program remains a top priority and during 2023, of our raw material spend, 96% of critical direct material suppliers committed to TPI’s supplier sustainability goals. In addition, we took an additional measure by making our Supplier Code of Conduct a standalone agreement to ensure that suppliers are aware and adhering to our expectations.
Reaffirming our Commitments
Providing the means necessary for the world to embrace renewable energy and reduce reliance on fossil fuels is the foundation of our company and
we are dedicated to doing so responsibly. We formally established our sustainability program in 2019, and I remain proud of our associates’ continued engagement in this important work. As we prepare for growth in the coming years, we maintain TPI’s commitments to our publicly stated sustainability goals of promoting a zero-harm culture and becoming carbon neutral by the end of 2030 with 100% of our energy being procured from renewable sources.
As we move forward on our sustainability journey, we will continue to set the “Sustainability Gold Standard” and drive the renewable energy transition forward for years to come.
