Europe's renewable energy producer and trader GoldenPeaks Capital said it has entered into a 12-year virtual power purchase agreement (VPPA) with snacks and confectionery giant Mondelez International to offset the electricity-related carbon footprint of the US company's plants in Poland.
GoldenPeaks will deliver annually some 126 GWh of renewable power from various plants in Poland with an expected capacity of 109 MWp, the company said in a press release on Wednesday. The energy production is to begin in January 2023.
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This way Mondelez will offset emissions from its plants in the central European country by more than a one-million metric tonne equivalent of carbon dioxide during the agreed period. The US company has committed to a zero carbon target by 2050 for its full value chain.
For GoldenPeaks, this is the fourth VPPA in Poland, having contracted some 500 GWh of solar energy in 2022 and planning to more than double the volume in 2023. The company, active in the construction and operation of solar systems, is one of the biggest photovoltaic plant owners in Poland and Hungary.
Mondelez Polska, former Kraft Foods Polska, is a major player in the Polish confectionery and snacks market. It has seven production sites in Poland, making chocolates, wafers, biscuits and cookies.