Sonoco and ENGIE Announce Commencement of 140-Megawatt Virtual Power Purchase Agreement

Core Insights - Sonoco has initiated a Virtual Power Purchase Agreement (VPPA) with ENGIE North America for the Big Sampson Wind Project, which will supply over 83% of Sonoco's U.S. electricity needs [1][2]. Company Initiatives - The VPPA will provide an estimated 140 megawatts of electricity annually, covering approximately 83% of Sonoco's U.S. electricity consumption in 2025 and about 52% of Big Sampson's expected output capacity for a 15-year term [2]. - This initiative aligns with Sonoco's sustainability goals, aiming to reduce global Scope 1 and Scope 2 emissions by 25% by 2030 from a 2020 baseline, with the VPPA expected to help reduce carbon emissions by approximately 19% [3]. Project Details - The Big Sampson Wind Project consists of 60 wind turbines, each with a generating capacity of 4.5 megawatts, and is expected to create long-term tax revenues exceeding $60 million for Crockett County and local school districts over its 15-year lifespan [6][7]. - The project employed around 400 skilled construction professionals during its development phase and will maintain 10 to 15 full-time operational staff [6]. Industry Context - ENGIE North America, a leader in the net zero energy transition, has over seven gigawatts of renewable energy production in operation or under construction across the U.S. and Canada [5]. - The partnership between Sonoco and ENGIE is expected to accelerate the addition of new clean power to the U.S. grid, supporting economic growth and meeting increasing energy demand [6].