Sonoco and ENGIE announce a VPPA for the Big Sampson Wind Project, supplying 83% of Sonoco's U.S. electricity needs.
Quiver AI Summary
Sonoco Products Company has announced the delivery of a Virtual Power Purchase Agreement (VPPA) for the Big Sampson Wind Project in Texas, marking its first offsite renewable energy project. This agreement with ENGIE North America secures approximately 140 megawatts of electricity per year, fulfilling over 83% of Sonoco's U.S. electricity needs for 2025, and supports the company's goal to reduce global emissions by 25% by 2030. The Big Sampson project, which consists of 60 wind turbines, is expected to generate significant renewable energy and create long-term economic benefits for the local community, including job creation and tax revenue. Both Sonoco and ENGIE are committed to advancing sustainability and enhancing clean energy production in the U.S.
Potential Positives
- Sonoco's Virtual Power Purchase Agreement (VPPA) with ENGIE will supply approximately 83% of the company's U.S. electricity needs, significantly enhancing its sustainability efforts.
- The VPPA is expected to reduce Sonoco's baseline carbon emissions by approximately 19%, helping the company meet its science-based targets for reducing Scope 1 and 2 emissions by 25% by 2030.
- This partnership with ENGIE aligns with Sonoco's commitment to corporate sustainability and will support economic growth by accelerating the addition of new clean power to the U.S. grid.
Potential Negatives
- The press release does not provide clear information on how Sonoco will address potential challenges or risks related to the long-term commitment of the 15-year Virtual Power Purchase Agreement, which may raise concerns about future costs or energy availability.
- While the agreement signifies a commitment to sustainability, it may also highlight Sonoco’s previous reliance on non-renewable energy sources, suggesting a late transition to sustainable practices.
- The announcement focuses heavily on future goals but lacks specifics on past performance, potentially diminishing credibility about their sustainability claims.
FAQ
What is the Big Sampson Wind Project?
The Big Sampson Wind Project is ENGIE’s renewable energy initiative located in Crockett County, Texas, aimed at supporting Sonoco's electricity needs.
How much of Sonoco's electricity needs does the project cover?
The project will represent over 83% of Sonoco's U.S. electricity consumption in 2025 through the Virtual Power Purchase Agreement.
What is a Virtual Power Purchase Agreement (VPPA)?
A VPPA is a contract between a company and a renewable energy producer, ensuring the company’s access to a certain amount of renewable electricity.
How does the Big Sampson project impact emissions?
The VPPA is expected to help reduce Sonoco’s baseline carbon emissions by approximately 19% through acquired renewable energy credits.
What are the benefits of the Big Sampson Wind Project?
The project is expected to create jobs, generate tax revenue exceeding $60 million, and support economic growth in local communities.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SON Insider Trading Activity
$SON insiders have traded $SON stock on the open market 6 times in the past 6 months. Of those trades, 6 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $SON stock by insiders over the last 6 months:
- PAUL JOACHIMCZYK (CFO) has made 5 purchases buying 20,500 shares for an estimated $809,746 and 0 sales.
- JOHN R HALEY purchased 2,506 shares for an estimated $99,914
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$SON Revenue
$SON had revenues of $2.1B in Q3 2025. This is an increase of 57.32% from the same period in the prior year.
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$SON Hedge Fund Activity
We have seen 220 institutional investors add shares of $SON stock to their portfolio, and 240 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- AQR CAPITAL MANAGEMENT LLC added 1,654,576 shares (+357.8%) to their portfolio in Q3 2025, for an estimated $71,295,679
- COOPER CREEK PARTNERS MANAGEMENT LLC removed 867,109 shares (-42.4%) from their portfolio in Q3 2025, for an estimated $37,363,726
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$SON Analyst Ratings
Wall Street analysts have issued reports on $SON in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Truist Securities issued a "Buy" rating on 01/06/2026
- Wells Fargo issued a "Overweight" rating on 10/24/2025
- Jefferies issued a "Buy" rating on 10/24/2025
- Citigroup issued a "Buy" rating on 09/29/2025
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$SON Price Targets
Multiple analysts have issued price targets for $SON recently. We have seen 6 analysts offer price targets for $SON in the last 6 months, with a median target of $54.5.
Here are some recent targets:
- Anojja Shah from UBS set a target price of $48.0 on 01/12/2026
- Michael Roxland from Truist Securities set a target price of $54.0 on 01/06/2026
- Gabe Hajde from Wells Fargo set a target price of $47.0 on 01/06/2026
- George Staphos from B of A Securities set a target price of $60.0 on 01/05/2026
- John Dunigan from Jefferies set a target price of $60.0 on 10/24/2025
- Anthony Pettinari from Citigroup set a target price of $55.0 on 09/29/2025
Full Release
Big Sampson Wind Project is First Offsite Renewable Energy Project for Sonoco
Will represent over 83% of Sonoco U.S. electricity needs
HARTSVILLE, S.C., Feb. 02, 2026 (GLOBE NEWSWIRE) -- Sonoco Products Company (“Sonoco” or the “Company”) (NYSE:SON), one of the largest global sustainable packaging companies, and ENGIE North America (“ENGIE") today announced that delivery of the Virtual Power Purchase Agreement (“VPPA”) for production from ENGIE’s Big Sampson Wind Project (“Big Sampson”), in Crockett County, Texas has commenced.
Under the VPPA, Sonoco and ENGIE contracted an estimated 140 megawatts of electricity per year, representing approximately 83% of Sonoco’s U.S. electricity consumption in 2025 and approximately 52% of the expected output capacity of Big Sampson, for a term of 15 years commencing upon Big Sampson’s entry into commercial operation.
The VPPA represents another step in Sonoco’s integrated approach to corporate sustainability. Aligned with their SBTi-validated reduction goal, the Company aims to reduce global Scope 1 and Scope 2 emissions by 25% by 2030 from a 2020 baseline through various corporate initiatives, including improved packaging design, installing energy-efficient equipment and procuring renewable energy sources. The VPPA is an example of these efforts, with renewable energy credits acquired under the VPPA expected to help reduce Sonoco’s baseline carbon emissions by approximately 19%.
“We are excited to take delivery of our VPPA based on the Big Sampson wind project. This project will accelerate our progress toward our emissions targets while delivering clean, reliable power to the communities they serve,” said Scott Byrne, Sonoco’s Vice President of Global Sustainability. “We look forward to continuing this long-term partnership with ENGIE as we work together to protect the environment and future generations and continue our promise of delivering Better Packaging. Better Life. solutions,” said Byrne.
Big Sampson is a project of ENGIE, a global leader in the net zero energy transition. The project, completed in late 2025, will be an addition to ENGIE North America’s more than seven gigawatts of renewable energy production in operation or under construction across the United States and Canada.
“We are delighted that the Big Sampson wind project is now supporting Sonoco’s renewable energy ambitions and helping them meet over 83% of their purchased electricity needs in the U.S. and Canada through this VPPA,” said Dave Carroll, Chief Renewables Officer, ENGIE North America. “The commitment of customers like Sonoco and ENGIE’s track record of delivery are helping to accelerate the addition of new clean power to the U.S. grid to meet increasing demand and support economic growth, and we very much look forward to a long relationship.”
The Big Sampson Wind Project consists of 60 wind turbines, each expected to have a generating capacity of 4.5 megawatts. The project employed roughly 400 skilled construction professionals during the building phase, and about 10 to 15 full-time professionals will support operations on an on-going basis.
In addition to jobs, Big Sampson is expected to provide long-term tax revenues for both Crockett County and local school districts of more than $60 million over the 15-year life of the project.
About Sonoco
Founded in 1899, Sonoco (NYSE: SON) is a global leader in value-added, sustainable metal and fiber consumer and industrial packaging. The Company is now a multi-billion-dollar enterprise with approximately 22,500 employees working in 265 operations in 40 countries, serving some of the world’s best-known brands. Guided by our purpose of
Better Packaging. Better Life.
, we strive to foster a culture of innovation, collaboration and excellence to provide solutions that better serve all our stakeholders and support a more sustainable future. Sonoco was proudly named one of America’s Most Responsible Companies by Newsweek. For more information on the Company, visit our website at
www.sonoco.com
.
About ENGIE North America
Based in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE (ENGI.PA), a global leader in low-carbon energy and services that is listed on the Paris and Brussels Stock Exchanges. Together with its 96,000 employees around the globe, its customers, partners and stakeholders, ENGIE is committed to accelerating the transition toward a carbon-neutral world, through reduced energy consumption and more environmentally friendly solutions.
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