Signify signs VPPA with Green Investment Group

For the next ten years, Signify, the world leader in lighting, will purchase renewable energy for its operations in Poland from the Green Investment Group’s (GIG) Kisielice onshore wind farm.

Kisielice wind farm is a 42-megawatt (MW) project located 200 kilometres north of Warsaw and was acquired by GIG in August. It has been operational since 2014 and consists of 21 Enercon E82 turbines. The wind power sourced under the VPPA will be applied to power four of Signify’s factories and several offices throughout Poland. The VPPA helps Signify reduce its annual carbon footprint by 73 kt CO2e pa – the equivalent of removing over 23,000 cars from the road[1].

“This VPPA is a major milestone on our journey to become carbon neutral in 2020,” said Nicola Kimm, Head of Sustainability, Environment, Health & Safety at Signify.

Signify pursued renewable electricity in Poland as its operations there are responsible for more than 25 per cent of the company’s global electricity footprint. As 80 per cent of electricity in Poland is currently generated from coal, this renewable energy agreement is significant in decarbonising Signify’s operations in the country. Renewable PPAs will play a role in supporting Poland to reach its 2030 country goal that 21 per cent of overall energy consumed will be from renewable sources.

This agreement, which is Signify’s first VPPA in Europe, is the result of a competitive tender process. GIG was selected because of its depth of experience in the PPA market. GIG has now structured and executed PPAs for nearly one GW of renewable energy capacity across Europe.

Corporate VPPAs are increasingly popular in Europe to reduce carbon emissions. They also play a critical role in accelerating the growth of renewables in markets where there’s little to no subsidy provided. Under this approach, the renewable power is sold onto the grid with the business user providing a guaranteed strike price – providing income stability for the renewable project while guaranteeing clean energy benefits for the corporate buyer.

 

This entry was posted in Energy Storage, News and tagged , , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.