Berry Global’s Power Purchase Agreement with Axpo Iberia

Squire Patton Boggs advised Berry Global on the deal.

The power purchase agreement will support the construction of a 50MWp solar plant in Guadalajara to be built by Spanish project developer Solaria. Due for completion by the end of 2021, the PV plant is part of the 626-MW Trillo project, which will be the largest solar plant in Europe.

The signing of the long-term PPA contract with Axpo Iberia is integral to Berry Global’s sustainability strategy in Spain. The company has committed to a 25% reduction in its emissions by 2025 compared to 2019 levels. Berry Global Spanish sites benefitting from the agreement include Tarragona, Madrid, Pamplona, La Caniza, and two in Barcelona. Tarragona is the primary site, with 70 per cent of Berry’s energy consumption for the country. Achieving this broader impact comes with partnership across the value chain, including Berry’s chosen PPA partnership with renewable energy leader Axpo Iberia. Berry Global is one of the world’s leading manufacturer and marketer of plastic packaging products Axpo is an international leader in the trading and marketing of solar and wind energy.

Berry Global, Inc is a Fortune 500 global manufacturer and marketer of plastic packaging products.[2] Headquartered in Evansville, Indiana, it has over 290 facilities across the globe and more than 48,000 employees. 

Axpo is an international leader in energy trading and the marketing of solar and wind power. In Europe, the company markets 16,600 MW of renewable energy for its customers.

SPB advised Berry Global with a cross-border and cross-practice team formed by UK derivatives and Financial services partner Jeremy Ladyman (Picture), Banking & Finance partner Manuel Mingot, UK Energy consultant Paul Brennan and associates Rob Broom and Alberto París.

Involved fees earner: Paul Brennan – Squire Patton Boggs; Rob Broom – Squire Patton Boggs; Jeremy Ladyman – Squire Patton Boggs; Manuel Mingot – Squire Patton Boggs; Alberto París – Squire Patton Boggs;

Law Firms: Squire Patton Boggs;

Clients: Berry Plastics Group, Inc.;

Author: Federica Tiefenthaler