Berry Global Announces Its First Virtual Power Purchase Agreement for Alternative Energy Source in Spain
Berry Global Group, Inc. announced investment in renewable energy through the use of a long-term virtual power purchase agreement (VPPA) aligned to provide the equivalent electricity requirements of the Company’s Spanish operations. In its Impact 2025 sustainability strategy, Berry commits to minimizing its absolute Scope 1 and Scope 2 emissions by 25 percent by 2025 vs. a 2019 baseline. This target was validated as being in line with the Paris Agreement and limiting warming to 1.5°C by the Science Based Targets initiative earlier this year. Agreements in renewable energy are a prioritized strategy to support its operational goals while additionally investing in reducing overall energy demand. The VPPA investment will support the construction of a solar park in Guadalajara, which will greatly reduce the Company’s carbon footprint in Spain with a reduction of approximately 20,000 tons per year. Sites benefitting from the agreement include Tarragona, Madrid, Pamplona, La Caniza, and two in Barcelona. Tarragona is the primary site, with 70 percent of Berry’s energy consumption for the country. Achieving this broader impact comes with partnership across the value chain, including Berry’s chosen VPPA partnership with renewable energy leader Axpo Iberia.