PepsiCo, Givaudan, and Smurfit WestRock sign 10-year VPPA with Statkraft for Spanish wind project

PepsiCo, Givaudan, and Smurfit WestRock signed a 10-year virtual power purchase agreement (VPPA) with Statkraft for renewable electricity from a wind asset in Spain, developed under PepsiCo’s pep+ REnew programme. The VPPA aggregates demand from the three companies to secure long-term renewable energy access, with PepsiCo acting as the lead buyer. The agreement is expected to reduce approximately 32,000 tonnes of CO₂ emissions annually and marks the second completed cohort under PepsiCo’s pep+ REnew programme, as well as the first renewable electricity cohort in Europe. The underlying wind asset in Spain will undergo repowering with more efficient turbines, utilizing existing grid infrastructure such as substations and interconnection points to boost renewable output while minimizing environmental impact. Archana Jagannathan, PepsiCo’s Chief Sustainability Officer for Europe, Middle East, and Africa, stated the agreement advances the company’s emissions reduction goals across its value chain, while John Powers of Schneider Electric’s SE Advisory Services noted the collaboration’s role in accelerating global decarbonization.

Counterparts (5)

Offtaker

Smurfit WestRock

company · 1 deals

G

Givaudan

company · 1 deals

PepsiCo

company · 1 deals

PepsiCo is a multinational food and beverage corporation that invests in sustainable infrastructure, including renewable energy and water conservation projects. The company aims to reduce its environmental impact and promote eco-friendly practices throughout its supply chain. PepsiCo also partners with various organizations to support community development and social initiatives.

ipp

Statkraft

company · 3 deals

Statkraft's verified activity includes one onshore wind Virtual Power Purchase Agreement (VPPA) in Germany. The company acted as the developer in this deal with Syngenta, highlighting their focus on this role within the renewable energy sector.

advisor

Schneider Electric

company · 2 deals

Schneider Electric is a global company focused on energy management and automation solutions. They provide technologies and services to improve energy efficiency, sustainability, and reliability across various sectors, including buildings, infrastructure, industry, and data centers.