Commercial, Solar, Sourcing Renewables - March 15, 2024
Crown Holdings Signs VPPA in Spain
Crown Holdings, Inc. entered into a 15-year virtual power purchase agreement (VPPA).
The agreement was entered into with Enel Green Power España (EGPE), Endesa's renewable energy subsidiary, and will secure renewable electricity from a new PV project built in Badajoz, Spain.
This deal will cover all of Crown's current operational footprint in European countries that are part of the Alliance of Issuing Bodies (AIB), which manages the European Energy Certificate System, allowing the company to advance in its Twentyby30™ sustainability program.
This agreement is Crown's first VPPA in Europe. The project is expected to produce an annual output of 285,100 megawatt hours (MWh), of which Crown is contracted for around 70%. The project is scheduled to start operation in October 2025.
Once operational, the PV project VPPA will directly contribute to the Science Based Targets initiative (SBTi)-approved goal of Crown's Twentyby30™ program to achieve 75% renewable energy by 2030 and 100% by 2040.
Crown, a global supplier of rigid packaging products to consumer marketing companies in addition to transit and protective packaging products, equipment and services, worked with Schneider Electric, an adviser in corporate renewable energy procurement and carbon management, on the project selection and VPPA negotiation.
"Covering our energy consumption in the EU serves as a milestone achievement for our organization," said John Rost, Senior Vice President – Corporate Technology, Sustainability and Regulatory Affairs, in a statement. "As we work toward the ambitious goals of our sustainability program, it is critical we identify and implement real solutions that can reduce our energy consumption, lower our emissions and create a more balanced footprint for our business, across all regions in which we operate. Working with Schneider Electric to establish an impactful VPPA in Europe underscores that we are taking responsibility for our actions and striving to be the strongest partner possible."
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