Sonoco Products, ENGIE North America Enter Virtual Power Purchase Agreement For Production from Big Sampson Wind Project
Portfolio Pulse from Benzinga Newsdesk
Sonoco Products (SON) and ENGIE North America (ENGQF) have entered into a Virtual Power Purchase Agreement (VPPA) for an estimated 140 megawatts of electricity per year from the Big Sampson Wind Project. This agreement covers approximately 48% of Sonoco's U.S. electricity needs in 2025 and 52% of Big Sampson's expected output capacity, with a term of 15 years starting from Big Sampson's commercial operation.
April 08, 2024 | 8:14 pm
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POSITIVE IMPACT
ENGIE North America enters a 15-year VPPA with Sonoco Products for the supply of an estimated 140 megawatts of electricity per year from the Big Sampson Wind Project.
The agreement secures a long-term buyer for ENGIE's Big Sampson Wind Project's output, enhancing ENGIE's position in the renewable energy market and potentially boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 90
POSITIVE IMPACT
Sonoco Products enters a 15-year VPPA with ENGIE North America for 140 megawatts of electricity per year from the Big Sampson Wind Project, covering 48% of its 2025 U.S. electricity needs.
This agreement demonstrates Sonoco's commitment to sustainability and renewable energy, likely positively impacting investor perception and potentially reducing long-term energy costs.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90