BNZ signs its first PPA with Ardagh Metal Packaging-Europe in Portugal
BNZ, an independent power producer (IPP) that develops, builds, and operates photovoltaic solar projects, has signed its first vPPA (virtual power purchase agreement). The agreement has been made with Ardagh Metal Packaging-Europe (AMP-Europe), an operating business of Ardagh Group, in Portugal.
This agreement will allow BNZ to supply a certificate of 100% green energy to AMP-Europe in a long-term 12-year contract, thus consolidating its commitment to sustainability and the energy transition. Specifically, BNZ will guarantee 146 GWh of annual energy starting in 2026, which will allow AMP-Europe to offset approximately 50% of its continental renewable energy requirements. It will also significantly contribute to the company’s goals, which plan to achieve 100% of renewable energy by 2030.
This contract marks an important milestone for BNZ as it begins to sell renewable energy to a major multinational client, consolidating its position in the renewable energy market in Southern Europe. In fact, just a few months ago, they inaugurated their first photovoltaic solar power plants in the province of Cádiz, Spain, meeting established forecasts and reaffirming their firm commitment to a much cleaner and greener energy future. In total, the company plans to deploy a portfolio of more than 1.7 GW of photovoltaic solar energy in Southern Europe by the end of 2026.
As BNZ’s Managing Director, Luis Selva, stated, “Our collaboration with AMP-Europe demonstrates how a strategic alliance can have a significantly positive impact for all parties involved. This vPPA not only strengthens our presence in Portugal, one of our key markets, but also contributes to our shared commitment with AMP-Europe to promote decarbonization and move towards a more sustainable future.”
David Spratt, CEO of AMP-Europe, stated, “We are delighted to partner with organizations like BNZ that share our commitment to accelerating a clean energy transition. This vPPA marks a significant milestone in the expansion of our vPPA portfolio in Europe and is an important step towards AMP’s CO2 reduction and renewable electricity goals.”
This agreement is part of BNZ’s strategy to strengthen its presence in the markets of Portugal, Spain, and Italy, collaborating with leading companies in various sectors. Recently, the company secured Europe’s first multi-country Total IPP Financing (TIPPF) of over €680 million, which will allow BNZ to develop its strategic plans, including the exploration of new technologies and geographic diversification. Portugal, in particular, is a priority market for the company due to its great growth potential in renewable energy generation, especially in the photovoltaic solar sector. Currently, BNZ is developing several projects in the country and plans to soon inaugurate a plant in the northern region.
