Enel Green Power Espana Inks 10 Year Pact with Johnson & Johnson
Enel Green Power Espana, has signed a 10-year, fully renewable Pan-European Virtual Power Purchase Agreement with the international healthcare company Johnson & Johnson for 270 GWh/year of renewable power originated from a total generation capacity of 104 MW. This VPPA will start in January 2023 and, along with other agreements previously signed by the international healthcare company, will bring Johnson & Johnson to the equivalent of 100% renewable electricity in Europe by 2023. This is a huge step towards its climate goal of 100% renewable electricity aloballv bv 2025.
The energy supply envisaged by the VPPA will be generated in three renewable plants currently under construction, creating a hybrid energy mix that will combine solar and wind sources. 85% of the power will come from the Campillo II and III Wind Farms, which are part of a cluster located in the Spanish province of Cuenca that will begin construction in the last quarter of 2021. The remaining 15% will be provided by the 47 MW PV plant Veracruz, which is located in Badajoz. Through the agreement, the renewable energy provided to Johnson & Johnson will avoid the annual emission of around 130,720 tons of C02 into the atmosphere.
Johnson & Johnson is committed to using resources efficiently and reducing greenhouse gas emissions, which affect the climate. As a leader in the healthcare industry, the multinational company knows that human health is inextricably linked to the health of the planet - healthy people need a healthy planet.
The VPPA signed by Enel Green Power Espana and Johnson & Johnson is a financial agreement that does not require a physical delivery of energy. It provides the off-taker with a financial price hedging and the corresponding Guarantees of Origin linked with the energy production from the renewable power plants. VPPAs allow all types of businesses to take advantage of renewable energy on a commercial scale while benefiting from the flexibility of a customized solution.