Graphic Packaging Holding Enters Virtual Power Purchase Agreement With Nextera Energy Resources, Which Will Include A 250 MW Solar Plant

Through the agreement, NextEra Energy Resources plans to build a 250-megawatt solar energy plant in West Texas, advancing Graphic Packaging's commitment to source renewable electricity and reduce its greenhouse gas (GHG) emissions.

This North America agreement builds on the momentum from a VPPA that Graphic Packaging supported in Spain, consisting of three solar plants expected to cover 70% of the company's energy demand in Europe. Renewable energy is a key driver within Graphic Packaging's Better, Every Day sustainability program, which aims to reduce the Company's GHG emissions and achieve net zero emissions by 2050.

The Selenite Springs Energy Center, located within the Electric Reliability Council of Texas (ERCOT) market, is expected to begin commercial operation at the end of 2027. Graphic Packaging will be the sole buyer of the facility's renewable energy attribute certificates, expected to cover approximately 43% of its 2025 electricity usage in the U.S. and Canada.

As Graphic Packaging's largest VPPA to date, the Selenite Springs project in Texas is a strategic component in achieving the Company's science-based target to reduce global Scope 1 and 2 GHG emissions 50.4% by 2032. It is expected to increase the Company's total global purchased renewable electricity to approximately 49% and reduce global Scope 1 and 2 GHG emissions by about 20% from the 2021 baseline.

"Our partnership with NextEra Energy Resources will advance our path toward net zero greenhouse gas emissions and a renewable future," said Michelle Fitzpatrick, chief sustainability officer at Graphic Packaging. "By sourcing renewable electricity for nearly half of our global electricity needs, we are better positioned to support our customers – the world's leading consumer brands – in making progress toward their sustainability goals."

The Selenite Springs Energy Center will add new, American-made energy to the ERCOT grid, helping to meet rising electricity demand across Texas while supporting grid reliability and cost efficiency.

"We're proud to work with Graphic Packaging to help meet their energy goals and bring new energy infrastructure online in Texas," said Mike DeBock, vice president of origination for NextEra Energy Resources.