Greif Announces Start of its First Virtual Power Purchase Agreement (VPPA) in Europe
Greif (NYSE: GEF), a global industrial packaging leader, has initiated its first Virtual Power Purchase Agreement (VPPA) in Europe through a partnership with Enel X Global Retail and Enel Green Power España. The 12-year agreement, which commenced on July 1, 2025, involves the purchase of 100 GWh of renewable energy annually from solar farms in Castilla y Léon, Spain.
This strategic initiative will help Greif offset 65% of its Scope 2 emissions in Europe and 3% of its combined Scope 1 and 2 emissions globally. The VPPA represents a significant step in Greif's sustainability strategy, focusing on reducing greenhouse gas emissions and operational waste.
Greif (NYSE: GEF), leader globale nel settore dell'imballaggio industriale, ha avviato il suo primo Contratto Virtuale di Acquisto di Energia (VPPA) in Europa grazie a una collaborazione con Enel X Global Retail ed Enel Green Power España. L'accordo, della durata di 12 anni e iniziato il 1° luglio 2025, prevede l'acquisto di 100 GWh di energia rinnovabile all'anno da impianti solari situati in Castilla y Léon, Spagna.
Questa iniziativa strategica consentirà a Greif di compensare il 65% delle proprie emissioni di Scope 2 in Europa e il 3% delle emissioni complessive di Scope 1 e 2 a livello globale. Il VPPA rappresenta un passo importante nella strategia di sostenibilità di Greif, focalizzata sulla riduzione delle emissioni di gas serra e degli sprechi operativi.
Greif (NYSE: GEF), líder mundial en embalajes industriales, ha iniciado su primer Acuerdo Virtual de Compra de Energía (VPPA) en Europa mediante una colaboración con Enel X Global Retail y Enel Green Power España. El acuerdo de 12 años, que comenzó el 1 de julio de 2025, implica la compra de 100 GWh de energía renovable anualmente proveniente de parques solares en Castilla y León, España.
Esta iniciativa estratégica ayudará a Greif a compensar el 65% de sus emisiones de Alcance 2 en Europa y el 3% de sus emisiones combinadas de Alcance 1 y 2 a nivel global. El VPPA representa un paso significativo en la estrategia de sostenibilidad de Greif, centrada en reducir las emisiones de gases de efecto invernadero y los residuos operativos.
Greif (NYSE: GEF)는 글로벌 산업 포장 선두기업으로서 Enel X Global Retail 및 Enel Green Power España와의 협력을 통해 유럽에서 첫 번째 가상 전력 구매 계약(VPPA)을 체결했습니다. 12년 계약으로 2025년 7월 1일부터 시작되며, 스페인 카스티야 이 레온 지역의 태양광 발전소에서 연간 100 GWh의 재생 에너지를 구매합니다.
이 전략적 이니셔티브는 Greif가 유럽 내 Scope 2 배출량의 65%와 전 세계적으로 Scope 1 및 2 배출량의 3%를 상쇄하는 데 도움을 줄 것입니다. VPPA는 온실가스 배출과 운영 폐기물 감소에 중점을 둔 Greif의 지속 가능성 전략에서 중요한 진전입니다.
Greif (NYSE : GEF), leader mondial de l'emballage industriel, a lancé son premier Accord d'Achat d'Énergie Virtuel (VPPA) en Europe grâce à un partenariat avec Enel X Global Retail et Enel Green Power España. Cet accord de 12 ans, débutant le 1er juillet 2025, prévoit l'achat de 100 GWh d'énergie renouvelable par an provenant de centrales solaires en Castilla y León, en Espagne.
Cette initiative stratégique permettra à Greif de compenser 65 % de ses émissions de Scope 2 en Europe et 3 % de ses émissions combinées de Scope 1 et 2 au niveau mondial. Le VPPA représente une étape importante dans la stratégie de durabilité de Greif, axée sur la réduction des émissions de gaz à effet de serre et des déchets opérationnels.
Greif (NYSE: GEF), ein weltweit führendes Unternehmen im Bereich industrielle Verpackungen, hat seinen ersten Virtuellen Stromabnahmevertrag (VPPA) in Europa gestartet, in Zusammenarbeit mit Enel X Global Retail und Enel Green Power España. Der 12-jährige Vertrag, der am 1. Juli 2025 begann, umfasst den jährlichen Kauf von 100 GWh erneuerbarer Energie von Solarparks in Castilla y León, Spanien.
Diese strategische Initiative wird Greif dabei helfen, 65 % seiner Scope-2-Emissionen in Europa und 3 % seiner kombinierten Scope-1- und Scope-2-Emissionen weltweit auszugleichen. Der VPPA stellt einen bedeutenden Schritt in Greifs Nachhaltigkeitsstrategie dar, die sich auf die Reduzierung von Treibhausgasemissionen und betrieblichen Abfällen konzentriert.
- Agreement will offset 65% of Scope 2 emissions in Europe
- 12-year long-term commitment for 100 GWh annual renewable energy
- Strategic advancement in company's sustainability goals
- Contributes to development of solar energy infrastructure
- Only addresses 3% of global combined Scope 1 and 2 emissions
DELAWARE, Ohio, July 16, 2025 (GLOBE NEWSWIRE) -- Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, is pleased to announce its Virtual Power Purchase Agreement (VPPA) through Enel X Global Retail team of experts and with Enel Green Power España (EGPE), started on July 1, 2025 following the successful construction and activation of the associated solar farms in Castilla y Léon, Spain.
Under the 12-year agreement, Greif will purchase approximately 100 GWh per year of clean, renewable energy, helping the company offset an estimated
“The activation of our VPPA with Enel Green Power España and through Enel X Global Retail, is a testament to our commitment to reducing our environmental footprint and investing in sustainable solutions,” said Ole Rosgaard, President and CEO of Greif. “This partnership not only advances our own sustainability objectives, but by funding the development of solar energy infrastructure, we are helping accelerate the world’s transition to clean, renewable energy.”
The solar VPPA is a core component of the company’s broader sustainability strategy, which is centered on reducing greenhouse gas emissions and minimizing waste throughout its operations. For more information about Greif's sustainability initiatives and the VPPA, please visit www.greif.com/sustainability.
About Greif, Inc.
Greif is a global leader in industrial packaging products and services, pursuing its vision to be the best customer service company in the world. The company produces steel, plastic and fiber drums, intermediate bulk containers, reconditioned containers, jerrycans and other small plastics, containerboard, corrugated sheets and products, uncoated recycled paperboard, coated recycled paperboard, tubes and cores, and a diverse mix of specialty products. Greif also manufactures packaging accessories and provides other packaging services for a wide range of industries. In addition, the company manages timber properties in the southeastern United States. Greif has a workforce of over 14,000 colleagues spread across more than 250 facilities in 37 countries to serve global as well as regional customers.
Media Contact:
TJ Struhs
Director, Corporate Communications
tj.struhs@greif.com | +1 (207) 956-2304
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Greif undertakes no obligation to update or revise any forward-looking statements.
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