Introduction
Did you know that Crown Holdings, Inc. has taken a significant leap towards sustainability in Europe? Let's dive into the details of their latest renewable energy deal and how it impacts their operations and the environment.
Driving Sustainability with Renewable Energy
Crown Holdings, Inc. has entered a 15-year Virtual Power Purchase Agreement (VPPA) with Enel Green Power España (EGPE) to secure renewable electricity from a new PV project in Badajoz, Spain. This strategic move aligns with Crown's Twentyby30™ sustainability program, showcasing its commitment to adopting renewable energy and reducing greenhouse gas emissions. The PV project is expected to produce an annual output of 285,100 Megawatt hours (MWh), significantly contributing to Crown's goal of achieving 75% renewable energy by 2030 and 100% by 2040.
Collaboration for a Greener Future
To make this ambitious goal a reality, Crown worked closely with Schneider Electric, a leading adviser in corporate renewable energy procurement and carbon management. This collaboration highlights Crown's dedication to responsible solutions and corporate stewardship. The VPPA with EGPE is Crown's first in Europe and is set to cover all of the company's current operational footprint in European countries that are part of the Alliance of Issuing Bodies (AIB), showcasing their commitment to act locally and reduce their carbon footprint.
A Path Towards Sustainable Packaging
Renewable energy is a key focus area in Crown's sustainability strategy. By sourcing renewable electricity, Crown is not only reducing its environmental impact but also setting a benchmark for the packaging industry. This latest VPPA follows Crown's earlier renewable energy project in the U.S. and Canadian beverage can plants, demonstrating their leadership in decarbonization efforts. The PV project in Europe is projected to save the CO2 emissions equivalent of nearly 40,000 homes' electricity use for one year, making a significant contribution to Crown's environmental goals.
Conclusion
Crown Holdings, Inc.'s renewable energy deal in Europe marks a milestone in their sustainability journey. By actively pursuing renewable energy sources, Crown is not only reducing its carbon footprint but also setting a precedent for the packaging industry. Their commitment to sustainability and environmental stewardship is evident, and this latest initiative is a testament to their dedication to creating a more sustainable future.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
Click to know more about Enerdatics' Renewable Energy M&A, Finance, PPA, and Projects databases.