BNZ, an independent renewable energy producer, has signed a significant Virtual Power Purchase Agreement (VPPA) with Ardagh Metal Packaging (AMP) in Portugal, aiming to support AMP's transition to renewable energy and carbon neutrality. This 12-year agreement will commence in 2026, securing 146 GWh of solar power annually for AMP's operations.

The VPPA is part of BNZ's larger strategy to boost renewable energy use across Southern Europe. AMP, a major player in sustainable metal packaging, will utilize this solar power to reduce its carbon footprint and support its sustainability goals, aligning with the company's 2030 targets to achieve 80% renewable energy use.

The solar energy will be generated from a new photovoltaic plant, furthering Portugal's ambitions in renewable energy development. This deal also emphasizes AMP's commitment to reducing its reliance on fossil fuels in manufacturing processes, thus fostering a more circular economy through the use of infinitely recyclable metal packaging.

BNZ, which is owned by Glennmont Partners of Nuveen, is playing a vital role in accelerating Portugal’s green energy goals through its expanding portfolio of solar projects. The VPPA with AMP demonstrates the growing trend of industrial collaborations focused on renewable energy and long-term sustainability.

Martin Petersson, CEO of AMP, highlighted that this agreement reinforces their efforts to decarbonize operations, bringing AMP closer to achieving its net-zero emissions objectives by 2030. Additionally, this collaboration enables AMP to position itself as a leader in green energy adoption within the packaging sector.

Overall, the BNZ-AMP VPPA is a step forward in enhancing the energy resilience of the packaging industry, offering a roadmap for other industries seeking similar transitions to sustainable power sources.