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    Repsol closes long-term renewable energy sales and purchase agreement with Kraft Heinz

    June 28, 2022 - CE Noticias Financieras



      This is the first investment in wind energy subscribed by the multinational food and beverage company.

      The 12-year VPPA is linked to one of the Delta II wind farms, Repsol's largest renewable project to date, which is already under development and, once completed, will have a total capacity of 860 MW distributed among 26 wind farms located in Aragón, according to the Spanish multi-energy company.

      The contract will contribute to Kraft Heinz's goals of achieving a majority of its electricity from renewable sources by 2025 and halving its greenhouse gas emissions by 2030.

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      The VPPA is equivalent to supplying electricity to 90% of Kraft Heinz's European production sites.

      It also reinforces Repsol's position as an industrial operator and demonstrates the validity and profitability of a growth model for renewables based on project development from the initial phases through to commissioning.

      "This new agreement with Kraft Heinz once again confirms the potential and attractiveness of our renewable assets for companies seeking guaranteed coverage of their long-term energy needs and, at the same time, obtaining greater stability, which favors their competitiveness," said Repsol's executive director of Low Carbon Generation, João Costeira.

      "Our agreement with Repsol is an important step in our efforts to reduce the impact of climate change," said Kraft Heinz Executive Vice President and President of International Markets Rafael Oliveira.

      "I am proud of this investment in our International Zone, which we expect will contribute to our global goal of achieving net zero emissions by 2050 and reducing 50% of our emissions by 2030, while helping our industry transition to renewable energy," he added.

      Repsol's target for installed renewable generation capacity in 2025 is 6 GW and in 2030, 20 GW.

      The company currently has a portfolio of more than 1.6 GW of installed renewable capacity and is present in this business in Spain, the United States, Chile and Portugal. This June, Repsol incorporated EIP and Crédit Agricole Assurances as partners to grow in the renewables business.


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