Enel Green Power Spain inks 10-year hybrid VPPA with Johnson & Johnson
- Enel Green Power's outpost in Spain has signed a ten-year virtual power purchase agreement (VPPA) with US healthcare group Johnson & Johnson (NYSE: JNJ), connecting the contract to 104 MW of new wind and solar generation capacity.
The "pan-European agreement" is structured around 270 GWh per year, to be produced by 2 wind farms and one solar park in Spain, Italian energy group Enel SpA (BIT: ENEL) stated Tuesday.
The VPPA will certainly work in January 2023.
Under the arrangement, 85% of the sustained power will come from the Campillo II and III wind farms, 2 pieces of a collection in Cuenca province that will certainly begin building and construction in the last quarter of 2021. The remaining 15% will certainly be offered by the 47-MW Veracruz solar PV farm that Enel Green Power Espana is building in the Badajoz district of Spain.
The present VPPA and also various other Johnson & Johnson's agreements will make it possible for the wellness group accomplish the matching of 100% sustainable power in Europe by 2023, Enel stated.