German chemical and consumer goods company Henkel AG & Co has signed a virtual power purchase agreement (VPPA) with Spain’s Ignis. The agreement is for 10 years, and the electricity will come from two new solar plants in Spain, which are planned to be commissioned in the summer of 2024. The electricity produced by them is expected to meet the demand of more than 40 Henkel production sites in Europe.
The two new solar power plants will be located in Castilla y León and Andalucia (Spain) and will avoid 72,000 tons of CO2-emissions each year, compared to the general electricity generation from fossil resources.
The virtual PPA, along with on-site renewable electricity generation and direct purchases, is expected to help Henkel achieve its global goal of 100% renewable electricity for its production sites worldwide by 2030.
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