09:12 AM EDT, 03/27/2024 (MT Newswires) -- Saputo Inc. ( SAPIF ) entered Wednesday into a 15-year virtual power purchase agreement (VPPA) with Capital Power ( CPXWF ) , a North American power producer.

A statement said the long-term commitment, supported by energy procurement advisor Schneider Electric, marks a "key milestone" in Saputo's ( SAPIF ) sustainability efforts, as it will "allow the company to make significant strides towards its climate target for 2025 and future environmental goals".

Wednesday's statement noted the agreement pertains to a Canadian-based wind facility (Halkirk 2 Wind) currently under construction. Subject to final regulatory approvals and once operational, the portion of the wind facility contracted by Saputo ( SAPIF ) will generate approximately 206,300 MWh of renewable electricity per year, reducing the company's CO2 emissions by more than 140,000 tonnes -- equivalent to taking more than 30,000 cars off the road. The new VPPA will ultimately cut down Saputo's ( SAPIF ) global CO2 footprint by 13% (against its fiscal 2020 baseline).