Coca-Cola Europacific Partners Achieves 100% Renewables Goal

• Coca-Cola accelerates its green journey in Australia, securing a virtual power purchase agreement to achieve 100% renewable energy by 2025—one year ahead of schedule!

Coca-Cola Europacific Partners Plc has secured a virtual power purchase agreement (VPPA) with Engie Australia, facilitating the company's commitment to 100% renewable energy in Australia ahead of schedule. The partnership will enable Coca-Cola to transition to all-renewables power for its Australian operations by January 1, 2025, one year earlier than initially planned.

This VPPA will supply Coca-Cola with green electricity and Renewable Energy Credits from Lightsource bp's Wellington North solar farm in New South Wales, which has a capacity of 425 MW DC and is expected to generate 925,000 MWh of power. Coca-Cola aims to achieve net-zero emissions in Australia by 2040 and joined the Climate Group's RE100 initiative in 2021, investing in solar projects across its production sites.

How does Coca-Cola's VPPA with Engie Australia advance its renewable energy goals?

Coca-Cola's Vice President Power Purchase Agreement (VPPA) with Engie Australia signifies a strategic move towards enhancing its sustainability footprint. Here are key points on how this partnership advances its renewable energy goals:

- Accelerated Timeline: The agreement allows Coca-Cola to transition to 100% renewable energy for its Australian operations by January 1, 2025, one year ahead of their original schedule, showcasing a strong commitment to sustainability.

- Sustainable Energy Source: By sourcing green electricity from Lightsource bp's Wellington North solar farm, Coca-Cola ensures that its energy consumption is directly linked to renewable sources, which helps in reducing reliance on fossil fuels.

- Integration of Renewable Energy Credits (RECs): The procurement of Renewable Energy Credits alongside the electricity supply supports Coca-Cola’s efforts to claim the renewable nature of its energy usage, enhancing transparency and compliance with sustainability reporting.

- Large-Scale Solar Energy Generation: The Wellington North solar farm's capacity of 425 MW DC and the expected generation of 925,000 MWh of power underscore Coca-Cola's commitment to tapping into large-scale renewable infrastructure, significantly bolstering the green energy mix of the grid.

- Long-term Sustainability Goals: With a target for net-zero emissions by 2040, this VPPA is a critical step in mitigating operational carbon footprints and advancing Coca-Cola’s broader environmental strategy.

- Alignment with Industry Initiatives: Coca-Cola's membership in the Climate Group's RE100 initiative signals a proactive approach to aligning with global climate goals, inspiring other corporations within the beverage industry to adopt similar renewable energy commitments.

- Encouragement for Future Investments: The VPPA may open avenues for further investments in renewable energy projects within Australia, helping to stimulate local job creation and economic growth in the green energy sector.

- Risk Management in Energy Costs: By locking in a VPPA, Coca-Cola can hedge against fluctuating electricity prices in the market, ensuring more predictable energy costs in the long run.

- Strengthening Corporate Responsibility: Engaging in renewable energy initiatives strengthens Coca-Cola's corporate social responsibility (CSR) profile, potentially enhancing brand loyalty among environmentally-conscious consumers.

- Collaboration with Industry Leaders: Partnering with Engie Australia, a leader in renewable energy solutions, leverages expertise in executing large-scale energy agreements, ensuring effective implementation and operation of the VPPA.

These elements demonstrate how Coca-Cola's VPPA with Engie Australia not only contributes to its specific renewable energy goals but also sets a precedent for other corporations aiming to transition to sustainable energy solutions.