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Executive summary
A global food and beverage company partnered with 3Degrees to achieve its ambitious renewable energy and carbon reduction goals in Europe. Through expert guidance and a regionally-tailored strategy, the client set its sights on greenhouse gas (GHG) emissions reductions by sourcing renewable energy through long-term power purchase agreements (PPAs) in multiple European countries.
Challenges
Amidst the European energy crisis and an ever-changing regulatory environment, the client faced the complex challenge of addressing near-term greenhouse gas (GHG) emission reductions while securing cost-effective renewable energy opportunities in diverse energy markets.
Achieving these goals required a solution that balanced financial considerations, mitigated risks, and aligned stakeholders while delivering measurable progress against their sustainability goals.
How we helped
3Degrees provided a comprehensive, step-by-step strategy to meet the client’s needs:
Stakeholder education
Facilitated targeted education sessions to engage stakeholders and align decision-makers on renewable energy opportunities.
Cross-border procurement strategy
Designed and executed a Europe-specific cross-border PPA procurement strategy.
Tender management
Launched and managed a competitive tender process to identify PPA opportunities that were best aligned with its evaluation criteria.
Risk analysis
Conducted in-depth financial and risk analyses to ensure the PPA contracts met the client’s risk tolerance.
PPA contract negotiation
Led PPA contract negotiations for five solar and wind projects in Spain, Finland, Lithuania, and Poland.
Results
The partnership enabled the food and beverage company to achieve outstanding results, including:
- A bespoke regional PPA strategy optimised for the European market.
- A diverse and balanced portfolio of solar and wind PPAs across four European countries to help mitigate risks.
- Execution of five long-term PPAs covering the markets of Spain, Finland, Lithuania, and Poland.
- Reduction of the client’s scope 2 footprint within the European market.
Get started on your renewable energy strategy today
Through its diverse portfolio of renewable energy power purchase agreements, our Food & Beverage client has demonstrated remarkable leadership in Europe’s energy transition. Their commitment not only secures long-term renewable energy supply, but also bolsters energy independence and mitigates the kind of volatility seen during the recent European energy crisis, setting a powerful example for achieving ambitious climate goals and risk mitigation.
