Press release
Kraft Heinz Announces Agreement with Repsol in Company’s First Wind Energy Investment
Virtual power purchase agreement advances Kraft Heinz toward global environmental stewardship goal of procuring majority of electricity from renewable energy
About this update from The Kraft Heinz Company
[{"type":"text","content":"\nVirtual power purchase agreement advances Kraft Heinz toward global environmental stewardship goal of procuring majority of electricity from renewable energy sources by 2025\n\n PITTSBURGH & CHICAGO--(BUSINESS WIRE)--\nThe Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) today announced a 12-year virtual power purchase agreement (“vPPA”) with Repsol, a global multi-energy company operating across more than 20 countries and based in Madrid, Spain. 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.\n\nKraft 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 percent of Kraft Heinz’s European manufacturing sites, which is the majority of its European load.\n\nThe vPPA is expected to generate enough renewable electricity to power approximately 25,000 average EU households per year at its peak.\n\n“Our agreement with Repsol is a significant step in our efforts to reduce the impact of climate change,” said Rafael Oliveira, Executive Vice President and President, International Markets at Kraft Heinz. “I am proud of this investment in our International Zone, which we expect to contribute to our global goal of achieving net zero emissions by 2050, and reducing 50 percent of our emissions by 2030, while also helping our industry make the transition to renewable power.”\n\nIn 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.\n\n\"This agreement with Kraft Heinz confirms once again the potential and attractiveness of our renewable assets for companies that are looking for guaranteed coverage of their long-term energy needs and, at the same time, obtain greater stability, which favors their competitiveness,\" said João Costeira, Repsol's Executive Director of Low Carbon Generation.\n\nIn December 2019, Repsol was the first company in its sector to make a commitment to be carbon neutral by 2050. ...