Greif Inc, a U.S.-based industrial packaging firm, has signed a virtual power purchase agreement (VPPA) with Endesa SA's renewable energy unit to facilitate the development of two solar farms in Spain.
The 12-year agreement, finalized with Enel Green Power Espana (EGPE), entails the supply of approximately 100 GWh of clean electricity annually, which will account for about 70% of the expected output from the new facilities.
The solar farms are set to be constructed in the Soria Province of Castilla y León. This VPPA aligns with Greif's commitment to reducing its greenhouse gas emissions.
The company aims to lower its Scope 1 and 2 emissions by 28% by 2030. According to a press statement, the renewable energy sourced through this contract is projected to contribute approximately 65% of Greif's Scope 2 emissions in Europe and around 3% of its total global Scope 1 and 2 emissions.
