REPSOL S.A.

REP
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The Kraft Heinz Company Announces A 12-Year Virtual Power Purchase Agreement with Repsol

06/28/2022 | 02:00am
The Kraft Heinz Company announced a 12-year virtual power purchase agreement with Repsol. This agreement is the Company's first investment in wind energy and is designed to help Kraft Heinz achieve its aspiration of procuring the majority of its electricity from renewable sources by 2025. Kraft Heinz is expected to source over 90 gigawatt hours/year of renewable energy from Spanish producer Repsol's largest wind project, Delta II (Aragon, Spain) – equivalent to powering approximately 90% of Kraft Heinz's European manufacturing sites, which is the majority of its European load. The vPPA is expected to generate enough renewable electricity to power approximately 25,000 average EU households per year at its peak. In 2021, Kraft Heinz announced its goal to achieve net zero greenhouse gas emissions across its operational footprint (Scope 1 and Scope 2) and entire global supply chain (Scope 3) by 2050, reaffirming its commitment to contribute to global efforts to reduce the ongoing threat of climate change. In December 2019, Repsol was the first company in its sector to make a commitment to be carbon neutral by 2050. Renewable power generation is one of the pillars of Repsol's decarbonization strategy: the targets of the company are 20 gigawatts (“GW”) of installed capacity by 2030 and 6 GW by 2025.
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