Norway's Statkraft AS has secured a long-term power purchase agreement (PPA) with US snacks producer Mondelez International Inc (NASDAQ:MDLZ), signifying a collaboration in the supply of solar energy.
Under the PPA, Statkraft will provide Mondelez with approximately 100 GWh of electricity annually, sourced from a solar farm located in Andalusia, Spain's southern region. The solar facility is part of Statkraft's extensive 1.8-GW wind and solar portfolio on the Iberian Peninsula.
The 11-year contract, effective from January 1, 2025, aligns with Mondelez International's sustainability goals, contributing to the company's commitment to achieving net-zero gas emissions across its value chain by 2050. The partnership underscores the increasing significance of corporate renewable energy procurement in driving sustainability initiatives.
Statkraft's strategic role in supplying solar energy to Mondelez International reinforces the transition toward cleaner and more sustainable power sources, marking a notable step forward in the decarbonization efforts of both companies.