Procter & Gamble enters into two 15-year virtual power purchase agreements with EDPR for solar and wind energy in EU
Client(s) Procter & Gamble Company, The
Jones Day advised The Procter Gamble Company in entering into two 15-year virtual power purchase agreements (VPPAs) to purchase electricity and guarantees of origin (GOs) from solar and wind energy projects in the EU owned by a subsidiary of renewable energy developer EDP Renováveis, S.A. (EDPR).
The VPPAs will help EDPR finance the development of two renewable projects in Spain that will have an aggregate capacity of around 127.5 MW. The projects are expected to enable P&G to offset carbon emissions associated with its EU electricity consumption, which will further P&G's efforts to meet its sustainability goals.