CCEP Australia has announced a VPPA to help meet the 100% renewable energy target in Australia
Thanks to this project, the company said it will achieve the aim a year early, by January 1, 2025
The deal for the Lightsource bp owned project was facilitated by Engie
Global beverage company Coca-Cola has signed up for a virtual power purchase agreement (VPPA) for solar power, which it says will help meet its target to use 100% renewable electricity across its Australian operations by January 1, 2025, a full year ahead of schedule.
Facilitated by the global renewable energy company Engie, the newly built North Wellington North Solar Farm that’s part of this transaction, is owned by Lightsource bp. Once online, the 425 MW DC solar project in New South Wales (NSW) along with Lightsource’s adjacent 200 MW DC Wellington Solar Farm will create the Wellington Solar Hub.
Under the VPPA signed, Coca-Coal Europacific Partners (CCEP) will purchase a percentage of renewable energy and associated Renewable Energy Credits (REC) from the project spread across close to 970 hectares. The project uses 1.2 million solar panels that are expected to generate 925,000 MWh of clean energy annually.
CCEP already uses solar energy directly in its operations through rooftop solar panels installed at several of its facilities in Australia.
“Our partnership with ENGIE and the signing of the VPPA agreement has accelerated our transition to reach our RE100 target in Australia a full year early. This will make CCEP one of the first FMCG players in the country to achieve the RE100 commitment and is an important milestone for our business,” stated CCEP Australia Managing Director Orlando Rodriguez.