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Saputo Signs Large-Scale Virtual Power Purchase Agreement With Capital Power; Carl Colizza Comments

Saputo Signs Large-Scale Virtual Power Purchase Agreement With Capital Power; Carl Colizza Comments


MONTRÉAL, QUÉBEC, CANADA
Tuesday, April 9th, 2024

Keeping its commitment to climate goals and sustainability at the forefront, Saputo entered into a 15-year virtual power purchase agreement (VPPA) with Capital Power, a North American power producer. The long-term commitment serves as a key milestone in the company’s sustainability efforts, enabling it to make vital strides toward its 2025 climate target.

Carl Colizza, President and Chief Operating Officer (North America), Saputo“As a global leader in the food industry, it is vital we demonstrate our commitment to the long-term sustainability of the dairy industry,” said Carl Colizza, Saputo’s President and Chief Operating Officer (North America). “This VPPA is an important step in sourcing clean, renewable electricity to reduce the carbon footprint of our operations, so that we may play our part as a sustainable dairy processor and safeguard the environment for future generations.”

The long-term commitment is supported by energy procurement advisor Schneider Electric, a release detailed.

Saputo has entered into a 15-year virtual power purchase agreement (VPPA) with Capital PowerThe agreement pertains to a Canadian-based wind facility (Halkirk 2 Wind), which is currently under construction. Subject to final regulatory approvals and once operational, the portion of the wind facility contracted by Saputo will generate approximately 206,300 MWh of renewable electricity per year, reducing the Company’s CO2 emissions by more than 140,000 tonnes—equivalent to taking more than 30,000 cars off the road.

Overall, the new VPPA will ultimately reduce Saputo’s global CO2 footprint by 13 percent (compared to its fiscal 2020 baseline). Since 2020, the company has invested $70 million to fund 65 products to reduce the carbon, energy, and water intensities of its operations. It also signed another long-term power purchase agreement in Australia in 2021.

To read more about Saputo’s recent efforts, click here.

Deli Market News will keep you updated with future sustainability strategies and updates.

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