United Caps has signed a corporate power purchase agreement (PPA) with Renantis SpA for a portion of the output from its 46.8 MW Alinden wind project based in Sweden. Under the agreement, United Caps will procure about 65 GWh of electricity each year generated by the wind farm. The deal will remain in force for a decade, with the Alinden wind farm capable of producing 160 GWh of electricity annually.
The agreement will aid United Caps in meeting its scope 1 and scope 2 emissions goals while also enabling its European businesses to operate on completely green electricity. The PPA agreement is part of the campaign to reduce greenhouse gas emissions and to ensure 100% clean energy consumption. United Caps, which is based in Luxembourg, is a company that deals with high-performance plastic caps and cases.
Not only will the PPA be beneficial in reducing emissions and fostering sustainability, but it is also a step towards meeting the European Union's objective of generating 30% of its energy from renewable sources by 2030. The agreement is projected to promote renewable energy uptake, accelerate energy transition from fossil fuels, and help tackle climate change.
