Linklaters advised Verallia, a European leader and the world’s third largest producer of glass packaging for beverages and food products, on a pan-European tender for the purchase of electricity from renewable sources through the use of “corporate power purchase agreements” (“CPPA”).
This strategic initiative supports Verallia’s global decarbonation policy and commitment to cut its greenhouse gas emissions by 46% by 2030 and secure a long-term, stable and sustainable supply of green electricity.
The first application of this tender enabled Verallia to enter into a CPPA in Italy with Edison Energia for volumes in excess of 350 GWh, marking a significant step in Verallia’s decarbonization policy.
The CPPA will substantially reduce Verallia’s CO2 emissions by an estimated 170,000 tonnes during the contract term. The renewable energy supplied originates predominantly from a new photovoltaic plant in Viterbo, Italy, and other mixed renewable sources.
The Linklaters team was led from Paris by Samuel Bordeleau, partner in the Energy and Infrastructure practice, with the assistance of William Toutain, associate. They were supported by Linklaters’ specialised energy sector teams from the global network, particularly those based in Milan for this first CPPA.
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