Commercial, Solar - December 15, 2022
Henkel Signs VPPA
Henkel, a chemicals company, signed a 10-year VPPA for two new solar power plants in Spain.
The agreement was signed with IGNIS, the Spanish integrated renewable energy group,
Henkel’s portion of the produced electricity equals the demand of more than 40 production sites of the company in Europe.
The electricity will be fed into the public supply grid. The new solar energy power plants will be located in Castilla y León and Andalucía (Spain) and will avoid 72,000 tons of CO2-emissions each year.
With an overall production volume of around 220,000 MWh per year, the solar parks are scheduled to be connected to the grid in the summer of 2024. Henkel’s agreement covers around 90% of the project’s total electricity capacity.
“At Henkel, we are on a journey toward an environmental transformation of our business model. As we aim for climate-positive operations by 2030, projects like this VPPA are an important lever to increase the share of green energy available in the grid and to thereby accelerate the broader conversion from fossil to renewable energy,” said Ulrike Sapiro, Chief Sustainability Officer at Henkel, in a statement. "
VPPAs, along with a combination of on-site production of renewable electricity and direct purchases, will help Henkel to meet its global target of 100 percent renewable electricity for its worldwide production sites by 2030.
The solar plants will be constructed and fully operated by IGNIS, adding to a portfolio of more than four GW of operational assets already managed by the company. Henkel was advised on the VPPA by Schneider Electric’s Sustainability Business.