Zelestra and Graphic Packaging sign VPPA to boost renewable energy in Europe

Zelestra, a renewable energy company, announced that it has signed a virtual power purchase agreement (PPA) with Graphic Packaging International, a sustainable consumer packing company.

This agreement, signed in Spain, supports Zelestra’s aim to address its customers' decarbonization needs and aligns with its strategic focus on expanding in Europe.

The renewable energy from Zelestra’s upcoming solar projects in Spain—José Cabrera and Socovos II—will have a total capacity of 83 megawatts (MW). Graphic Packaging anticipates receiving origin guarantees for about 86% of the energy produced by these projects.

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Joe Yost, Executive Vice President & President of international at Graphic Packaging, stated, “This agreement is a testament to Graphic Packaging’s commitment to environmental leadership and represents our largest decarbonization lever in Europe.”

He added, “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”.

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The agreement with Zelestra significantly supports Graphic Packaging’s goal to cut Scope 1 and 2 GHG emissions by 50.4% by 2032. It will raise the Company’s share of purchased renewable electricity in Europe to around 70%.

Zelestra, a global leader in renewable energy with 20 GW of carbon-free projects across 13 countries and supported by EQT, boasts a team of over 800 professionals.

Graphic Packaging International, LLC, the main subsidiary of Graphic Packaging Holding Company based in Atlanta, Georgia, specializes in designing and producing consumer packaging from renewable or recycled materials.