TDF Signs a Corporate Power Purchase Agreement with Neoen for 62 MW of Solar Energy in France

Source: 12/22/2022, Location: Europe

Neoen (ISIN Code: FR0011675362, ticker: NEOEN), one of the world’s leading producers of exclusively renewable energy, has signed a corporate power purchase agreement for 62 MW with TDF, the leading digital infrastructure and network operator in mainland France and French overseas territories. This is the first corporate PPA that both Neoen and TDF have signed in France.

Under the 15-year agreement, from 1 January 2026, TDF will purchase the electricity and guarantees of origin produced by the Salernes (16.8 MW, department of Var) and Boussès (45.1 MW, department of Lot-et-Garonne) solar farms.

This corporate PPA will allow TDF to secure a supply of green energy for a significant part of the electricity consumption of its telecommunications and audio-visual broadcasting sites. The initiative forms part of the Group’s broader strategy for corporate social responsibility and to reduce its carbon footprint.

Construction of the two solar farms, developed by Neoen in dialogue with the local governments and stakeholders in the respective areas, will begin in 2023, with commissioning of the Salernes solar farm scheduled for 2024 and Boussès to follow in 2025. Fully-owned and operated by Neoen, the two solar farms will have an annual production of around 83 GWh.

The Boussès solar farm will also entail the restoration of a degraded forest environment with many diseased trees (gap formation, wood-boring beetles, Fomes rot). Under a forestry compensation scheme, 86.2 hectares of healthy trees (including hardwoods) will be planted in the department of Lot-et-Garonne – twice the area that will be cleared.

Guillaume Decaen, Neoen’s French Development Director, France, said: “We are delighted to announce the signing of our first corporate PPA in France and we would like to thank TDF for the trust they have placed in us. With almost 1.3 GW in operation or under construction, we were already the top independent company for French government tenders. The strength and depth of our portfolio of projects provide a solid foundation for our growing ambitions in the corporate PPA market.”

Olivier Huart, Chairman and CEO of TDF, said: “We are proud to embark on this flagship partnership with Neoen, a key French player in renewable energy. Optimising our energy consumption and incorporating new sources of energy supply are priority areas for reducing our carbon footprint. More than ever, the urgence of the environmental challenges and the energy crisis we face mean that industrial actors like TDF must rethink their energy needs and consumption. This means sustainably transforming our habits and the way we consume energy, as well as our usage.”

Alain Rousset, President of the Nouvelle-Aquitaine region, added: “Nouvelle-Aquitaine is the first region in France to reach 26.6% of renewables as a percentage of final energy consumption. Given the energy crisis, I would like to see this potential become an asset for the actors of the regional economy. I am delighted that the region’s initiative to accelerate the signing of green corporate PPAs to purchase local renewable energy within the Nouvelle-Aquitaine region feeds into the TDF Group’s social responsibility and environmental commitments. I look forward to seeing this innovative approach set an example to companies looking to become more competitive and speed up their transition.”

Xavier Barbaro, CEO and Chairman of Neoen, concluded: “I would like to congratulate our team on signing this first corporate PPA in France. These contracts allow our customers in France and around the world to secure a long-term supply of green electricity at a structurally advantageous price, giving them a competitive edge and helping reduce their carbon footprint. France is where Neoen started out and is a key country for our company: we are proud to be able to meet the needs of our customers in both the public and private sectors and to play an increasingly active role in decarbonising our country and its industry.”

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