This latest vPPA will start in 2026 and will run for 12 years, securing 146 GWh of renewable electricity certificates annually, which is expected to offset approximately 50% of AMP-Europe’s continental energy consumption.
A vPPA (Virtual Power Purchase Agreement) is a contract that allows a company to purchase renewable energy indirectly. Unlike a traditional PPA, where power is physically delivered to the buyer’s facility, in a vPPA the buyer purchases renewable energy certificates (RECs) that represent renewable energy production.
Schneider Electric, a leading advisor in corporate renewable energy procurement and carbon management, supported AMP-Europe in the project selection and negotiation of the vPPA.
This most recent vPPA for AMP-Europe follows the solar power agreement secured in Germany earlier this year with Sunnic Lighthouse GmbH. AMP-Europe plans to continue working with Schneider Electric on additional power purchase agreements (PPAs) to reach its goal of 100% renewable electricity by 2030.
David Spratt, CEO of AMP-Europe, said. “this agreement marks a significant milestone in the expansion of our vPPA portfolio in Europe and is an important step towards AMP’s CO2 reduction and renewable electricity targets.”
Luis Selva, CEO of BNZ, commented: “Our collaboration with AMP-Europe demonstrates how a strategic alliance can have a significant positive impact for all parties involved. This vPPA not only strengthens our presence in Portugal, one of our key markets, but also contributes to our shared commitment with AMP-Europe to promote decarbonization and move towards a more sustainable future.”
“Facilitating access to renewable energy for every organization is a crucial part of meeting global emissions targets,”said John Powers of Schneider Electric.
