Graphic Packaging International has announced it has entered into a virtual Power Purchase Agreement (vPPA) in Europe with renewable energy company Zelestra, to add renewable electricity to the European power grid.
The agreement also hopes to advance Graphic Packaging’s commitment to reduce its greenhouse gas (GHG) emissions by receiving renewable energy attribute certificates (known as Guarantees of Origin in the EU) generated by the project.
The renewable electricity generated by two of Zelestra’s solar projects to be built in Spain – José Cabrera and Socovos II – is anticipated to have a combined total capacity of 83 megawatts (MWdc). Graphic Packaging expects to receive renewable energy attribute certificates corresponding to approximately 86 percent of the solar projects’ output.
The agreement is said to be a strategic component in achieving Graphic Packaging’s science-based target to reduce Scope 1 and 2 GHG emissions by 50.4% by 2032, based on 2021 as the baseline year. The company says it will increase its purchased renewable electricity in Europe to approximately 70%.
Joe Yost, executive vice president and international president at Graphic Packaging, said: “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.”
Ivan Nieto, Zelestra’s chief commercial officer, commented: “We are excited about this partnership with Graphic Packaging 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.”
In similar news, starting in January this year, European electricity and heat retailer Vattenfall will be supplying polyolefins solutions provider Borealis with renewable energy from its hydropower plants, as part of a long-term renewable hydropower purchase agreement (PPA) made in December 2023. Vattenfall will apparently supply 175 GWh of renewable energy per year – over the next 10 years - to Borealis’ operations in Stenungsund from its hydropower plants, located along the Lule River in Sweden.
In April, BASF, SABIC, and Linde launched operations at the ‘world’s first’ demonstration plant to heat its large-scale steam cracking furnaces with renewable electricity. The move is anticipated to reduce CO2 emissions by at least 90% compared to conventional technologies.
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