Sustainable consumer packaging company Graphic Packaging has entered into a virtual power purchase agreement with Zelestra, marking a significant step in its sustainability journey.
The deal will see Zelestra supply clean energy from two upcoming solar projects in Spain.
Located at José Cabrera and Socovos II, the solar plants will have a combined capacity of 83MW.
The packaging company is anticipating the receipt of guarantees of origin for approximately 86% of the energy output.
This initiative is poised to contribute substantially to Graphic Packaging's goal of slashing scope 1 and 2 greenhouse gas (GHG) emissions by 50.4% by 2032, based on 2021 as the baseline year.
As a result of this agreement, the company's renewable electricity purchases in Europe are set to rise to roughly 70%.
Graphic Packaging International executive vice-president and president Joe Yost said: "This agreement is a testament to Graphic Packaging's commitment to environmental leadership and represents our largest decarbonization lever in Europe.
"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".
Schneider Electric is facilitating the agreement between the two parties, offering advisory services and strategy management.
The partnership is reflective of Zelestra's commitment to providing customized solutions for its clients on their path to decarbonization.
Zelestra CCO Ivan Nieto said: "We are excited about this partnership with Graphic Packaging International 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."
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