Eversheds Sutherland is pleased to announce that it represented client Ball Corporation (Ball) in two virtual power purchase agreements (VPPAs) to further the company’s progress in achieving 100% renewable energy in Europe.
The two VPPAs were for wind developments in Sweden and Spain, specifically for the Corral Nuevo project with wpd and for the Brattmyrliden project with Falck Renewables – for a total of 93.4 megawatts (MW) of additional wind energy. They will allow the company to address approximately 63% of the European electricity load utilised in its aluminium beverage packaging plants (excluding Russia) with new renewable energy.
Eversheds Sutherland Global Energy Partner Ram C. Sunkara (US) and Counsel Joshua L. Belcher (US) led the transaction. They were assisted in Europe by a team led by Partner Jean-Pascal Boutin (UK), Counsel Marta Vizcaíno Martín (Spain) along with Senior Associate Ben Brown (UK).
The transaction highlights Eversheds Sutherland’s ability to seamlessly negotiate and execute VPPAs and PPAs for corporate off takers across multiple domestic and international jurisdictions.
The two developments will collectively enable Ball to reduce its Scope 2 greenhouse gas emissions generated in Europe by approximately 60% compared to 2019, equivalent to the carbon reduction that would be provided by removing more than 47,000 passenger vehicles from the road annually. Scheduled to come online in 2021, Ball’s share of the Corral Nuevo and Brattmyrliden wind projects will generate nearly 308,000 megawatt hours (MWh) of renewable electricity in Europe each year—equivalent to the electricity load of approximately 10 Ball beverage packaging plants.
About Eversheds Sutherland’s Global Energy Group
For more than four decades, Eversheds Sutherland’s Global Energy Group has been counselling energy clients in guiding their businesses through an ever-changing landscape. With more than 300 energy and infrastructure lawyers located in business, financial and policy capitals throughout Africa, the Americas, Asia, Europe and the Middle East, Eversheds Sutherland has the in-depth industry knowledge, deep resources and expansive reach necessary to compete in today’s global energy markets.
Eversheds Sutherland’s clean energy and sustainability lawyers work daily in the industry, and are leading the way on the energy transition dialogue. From the 20% renewable energy target set by the European Council, to federal tax incentives in the US, to global corporations’ sustainability initiatives, to the government-imposed bidding process for Chinese wind projects, the market is always changing, and we can advise on this ever-evolving landscape.