Owens Corning signs 10-year virtual power purchase agreement with Shell Energy Europe, a major step toward achieving its goal of sourcing 100% renewable electricity by 2030

Sample article from our Wood & Building Products

May 1, 2023 (press release) –


<time datetime="2023-05-01T17:00:00Z">Mon, 05/01/2023 - 13:00</time> Type of Content Article Layout Standard Format Body

Owens Corning is taking a major step in Europe toward achieving its goal of sourcing 100 percent renewable electricity by 2030 with a 10-year virtual power purchase agreement (VPPA) with Shell Energy Europe B.V. effective March 9, 2023 .

The agreement involves three separate VPPAs for a contracted capacity of guarantees of origin corresponding to 81.9 MW (megawatts) supplying eight of the facilities in Europe . The guarantees of origin correspond to renewable electricity produced by three third-party solar projects in Spain that are collectively expected to produce around 223 GWh (gigawatt-hours) per year. According to Eurostat statistics for 2020, this is equivalent to the household electricity consumption of 140,000 European citizens.

In addition to the two wind driven VPPAs already in operation, this agreement means that 100 percent of Owens Corning’s European production sites and science & technology centers will be covered by contracts and VPPAs supplying guarantees of origin enabling renewable electricity and supporting Owens Corning’s sustainability goals.

“This is a major achievement for Owens Corning in Europe and a significant contribution to reducing our carbon emissions. It demonstrates our commitment to build a more sustainable future through material innovation and to grow in the markets we serve. Collaborating through a network of strategic partners such as Shell also enables us to be more agile and accelerate our progress."

Nico Del Monaco , senior vice president and managing director for Owens Corning Europe

Distribution Settings Markup

Date and Time are ET. We may take up to two hours to approve confirmed content. Content is reviewed for publishing: Monday-Wednesday 8 a.m. -8 p.m. ET , Thursday-Friday 8 a.m. -6 p.m. ET

Layout Classic Publish on CSRWire On Skip Accesswire No

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

See our dashboard in action - schedule an demo
Dan Rivard
Dan Rivard
- VP Market Development -

We offer built-to-order wood & building products coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.