- With this virtual PPA, Graphic Packaging advances its commitment to reduce its greenhouse gas emissions
- This agreement reflects Zelestra’s approach to tailoring solutions for its customers on their decarbonization journey
Graphic Packaging International, a global leader in sustainable consumer packaging, and Zelestra, a client-focused, multi-technology, global renewable energy company, have signed a virtual Power Purchase Agreement (vPPA) in Spain.
This agreement is aligned with Zelestra’s goal to meet the decarbonization needs of its customers and strategic focus on growth in Europe.
The renewable energy generated by two of Zelestra’s solar projects to be built in Spain – José Cabrera and Socovos II – will have a combined total capacity of 83 MW. Graphic Packaging expects to receive the guarantees of origin corresponding to approximately 86% of the solar projects’ output.
The agreement with Zelestra is a meaningful contribution to achieving Graphic Packaging’s science-based target to reduce Scope 1 and 2 GHG emissions by 50.4 percent by 20321. It will increase the Company’s purchased renewable electricity in Europe to approximately 70 percent.
Ivan Nieto, Zelestra’s Chief Commercial Officer, commented: “We are excited about this partnership with Graphic Packaging International to advance our shared values for making decarbonization a reality, and we are proud to be able to offer our customer a tailored, carbon-free solution to progress its sustainability goals”.
Joe Yost, Executive Vice President & President, International, at Graphic Packaging, stated: “This agreement is a testament to Graphic Packaging’s commitment to environmental leadership and represents our largest decarbonization lever in Europe. The long-term contract will create new green electricity capacity in Europe, supporting both our own and our customers’ commitments to reducing GHG emissions. It also demonstrates our promise to becoming better, every day, for our employees, customers, shareholders, and the planet”.
Schneider Electric provided advisory services and strategy management for the agreement between Graphic Packaging and Zelestra.
1Based on 2021 as the baseline year.
