Graphic Packaging International has entered into a virtual Power Purchase Agreement (vPPA) with Zelestra to enhance renewable electricity capacity in Europe.
This agreement marks a significant step in Graphic Packaging's commitment to sustainability, aiming to reduce its greenhouse gas emissions by 50.4% by 2032. The renewable energy will be generated by two solar projects in Spain, José Cabrera and Socovos II, with a combined capacity of 83 megawatts.
Under the agreement, Graphic Packaging will receive renewable energy attribute certificates for approximately 86% of the projects’ output, increasing its renewable electricity purchases in Europe to nearly 70%. Joe Yost, Executive Vice President at Graphic Packaging, emphasized the importance of this agreement as a major decarbonization effort in Europe, supporting both the company's and its customers' environmental goals.
Ivan Nieto, Chief Commercial Officer of Zelestra, expressed enthusiasm for the partnership, highlighting the shared commitment to decarbonization. Schneider Electric provided strategic advisory services for the agreement, further demonstrating Graphic Packaging's dedication to innovative and sustainable packaging solutions.
