Graphic Packaging International has signed a virtual Power Purchase Agreement (vPPA) with renewable energy company Zelestra to source clean energy from two solar projects in Spain, José Cabrera and Socovos II, totalling 83 MW. This agreement supports Graphic Packaging’s commitment to reducing its greenhouse gas emissions, aiming to cut Scope 1 and 2 GHG emissions by 50.4% by 2032.
Under the agreement, Graphic Packaging will receive guarantees of origin for approximately 86% of the solar projects’ output, increasing its purchased renewable electricity in Europe to around 70%. The partnership is a significant step in Graphic Packaging’s environmental leadership, aligning with Zelestra’s focus on providing tailored decarbonization solutions.
Zelestra, with a global portfolio of 20 GW of renewable projects, is backed by EQT, a major fund manager. Schneider Electric provided advisory services for this agreement.