…by signing the largest solar Power Purchase Agreement in the packaging industry in Europe

Carbon neutral production and the use of 100% renewable electricity by 2030 are among Huhtamaki’s sustainability ambitions. The key global provider of sustainable packaging solutions has now taken a significant step towards reaching these ambitions by signing two 10-year virtual Power Purchase Agreements (VPPA) with global renewable energy developer BayWa r.e covering its operations in Europe. The agreements form the largest solar VPPA for the packaging industry in Europe, as well as the first major solar VPPA by a Finnish company.

Huhtamaki aims to use 100% renewable electricity across all its operations by 2030
Sustainability lies at the center of Huhtamaki’s 2030 Strategy and today the Company is making a leap forward towards delivering on its ambitions by closing two 10-year virtual Power Purchase Agreements (VPPAs) with BayWa r.e., a global renewable energy developer. The 200 GWh agreements cover approximately 80% of Huhtamaki’s current electricity usage in Europe, where the key global provider of sustainable packaging solutions has 18 manufacturing sites in 10 countries.

”We are committed to our ambitious 2030 strategy to become the first choice in sustainable packaging solutions. This means developing a circular approach for our operations and products. We are fully committed to supporting the transition to a zero-carbon economy and have a climate strategy with clear targets and action plans to address all our emissions. Renewable electricity plays a major role in delivering on our ambitions and the agreement we have just signed with BayWa r.e. demonstrates that it is possible to achieve significant progress in a short time,” says Charles Héaulmé, President and CEO of Huhtamaki.

“The science-based targets validated and approved by the Science Based Targets initiative in 2021 mean that we need to address our Scope 1, 2 and 3 emissions. Today, the majority of our Scope 2 emissions are related to purchased electricity and we can address them efficiently by switching to renewable electricity. The agreement with BayWa r.e. is our first VPPA, in line with our shift to renewable energy sources globally. We expect to embark on other VPPA’s shortly, with the next one in the United States. In addition, we are installing solar panels at our sites where feasible and working relentlessly to improve our energy efficiency. The progress Huhtamaki is making in switching to 100% renewable electricity plays a significant role also in delivering on our ambition of carbon neutral production by 2030. Additional measures are however needed to address our Scope 1 emissions. In addition to improvements in energy efficiency these include switching to alternative fuels and electrification of systems,” says Thomasine Kamerling Executive Vice President, Sustainability and Communications.

Huhtamaki’s VPPAs make more renewable electricity available in Europe
As part of the VPPAs, BayWa r.e. will build two new solar installations in Spain bringing a significant addition of renewable energy to the European grid. The two new solar sites have a combined volume of 200 GWh of renewable electricity per year – enough electricity to power almost 25,000 households – resulting in saving over 89,000 tons of CO2 annually.

“Huhtamaki is taking a leading role in driving forward the renewable energy transition in the packaging industry and I hope this encourages other corporations to follow. Supporting Huhtamaki on its journey to achieving the company’s sustainability goals represents another important milestone in BayWa r.e.’s own commitment to advancing the corporate energy transition that is so pivotal to meeting global climate targets”, added Matthias Taft, CEO, BayWa r.e.”  

For further information, please contact:
Katariina Hietaranta, Head of Media Relations, tel. +358 10 686 7863

HUHTAMÄKI OYJ
Global Communications

Notes to editors:
A virtual Power Purchase Agreement (VPPA) is a contract structure in which a power buyer (or off taker) agrees to purchase a project’s renewable energy for a pre-agreed price. In this agreement, the utility-scale solar project receives the market price at the time the energy is sold. Source: https://bit.ly/3F3BMxh

About Huhtamaki
Huhtamaki is a key global provider of sustainable packaging solutions for consumers around the world, enabling wellbeing and convenience. Our innovative products protect on-the-go and on-the-shelf food and beverages, ensuring hygiene and safety, and help prevent food waste. We embed sustainability in everything we do. We are committed to achieving carbon neutral production and designing all our products to be recyclable, compostable or reusable by 2030.

We are a participant in the UN Global Compact and EcoVadis has awarded Huhtamaki with the Gold medal for performance in sustainability. To play our part in managing climate change, we have set science-based targets that have been approved and validated by the Science Based Targets initiative.

With 100 years of history and a strong Nordic heritage we operate in 36 countries and 84 sites around the world. Our values Care Dare Deliver guide our decisions and help our team of 19,400 employees make a difference where it matters. Our 2020 net sales totaled EUR 3.3 billion. Huhtamaki Group is headquartered in Espoo, Finland and our parent company, Huhtamäki Oyj, is listed on Nasdaq Helsinki Ltd. Find out more about how we are protecting food, people and the planet on www.huhtamaki.com.