Crown Holdings secures renewable electricity via 15-year VPPA with Enel Green Power España
Crown Holdings, Inc. (NYSE: CCK), a global leader in metal packaging, has taken a significant step towards its sustainability and environmental responsibility goals by entering into a 15-year Virtual Power Purchase Agreement (VPPA) with Enel Green Power España (EGPE), a subsidiary of Endesa focusing on renewable energy. This landmark deal is set to provide Crown with renewable electricity sourced from a newly constructed photovoltaic (PV) project located in Badajoz, Spain, marking a pivotal move in Crown’s journey towards a greener operational footprint across Europe.
The PV project in question is not only a testament to Crown’s commitment to reducing greenhouse gas emissions but also aligns with the company’s broader objective of enhancing corporate stewardship. This initiative is part of Crown’s ambitious Twentyby30™ sustainability program, aimed at achieving significant environmental milestones within the next decade. The involvement of Schneider Electric, a global consultancy leader in corporate renewable energy procurement and carbon management, was instrumental in selecting the project and negotiating the VPPA, showcasing Crown’s proactive approach in identifying impactful solutions for sustainability.
Crown’s latest VPPA signifies its first foray into renewable energy procurement in Europe, highlighting the company’s dedication to act locally while thinking globally. With the PV project slated to start operations in October 2025, it is expected to generate an annual output of 285,100 Megawatt hours (MWh), of which approximately 70% will be allocated to Crown. This substantial energy supply is projected to offset the CO2 emissions equivalent to the electricity usage of nearly 40,000 homes for one year, underlining the significant environmental impact of the agreement.
Reflecting on Crown’s history, the company has previously demonstrated its commitment to renewable energy. In 2020, Crown became the first metal packaging manufacturer to power all its U.S. and Canadian beverage can plants with 100% renewable electricity through a VPPA in Texas, focusing on wind power. This initiative was estimated to prevent over 310,000 metric tons of carbon emissions annually, showcasing Crown’s proactive measures in environmental stewardship.
The VPPA with EGPE is a critical component of Crown’s strategy to meet the Science Based Targets initiative (SBTi)-approved goals of achieving 75% renewable energy by 2030 and 100% by 2040 as part of its Twentyby30™ program. John Rost, Senior Vice President – Corporate Technology, Sustainability, and Regulatory Affairs at Crown, emphasized the importance of covering the company’s energy consumption in the EU as a milestone towards realizing their sustainability objectives. He highlighted the significance of implementing real solutions to reduce energy consumption, lower emissions, and create a balanced footprint across all operational regions.
John Powers, VP Global Renewables at Schneider Electric, praised Crown’s leadership in the packaging industry’s decarbonization efforts and its strong commitment to sustainability. The partnership between Crown and EGPE, facilitated by Schneider Electric, marks a significant advancement in Crown’s environmental initiatives, reinforcing the company’s position as a responsible corporate citizen committed to sustainable development.
In conclusion, Crown Holdings, Inc.’s strategic VPPA with Enel Green Power España represents a significant leap forward in its sustainability journey, underscoring the company’s dedication to environmental stewardship and corporate responsibility. This initiative not only contributes to Crown’s sustainability goals but also sets a precedent for the industry, highlighting the importance of renewable energy in achieving a greener future.