France headquartered global cosmetics brand L'Oréal Group has turned a solar offtaker for the entire production from 2 EDF Renouvelables' PV parks of 27 MW combined capacity. L'Oréal wants to power 30 of its French sites with clean energy, which will be equivalent to 25% of its French electricity consumption.
The corporate power purchase agreements (CPPA) for these facilities will provide solar power to 30 of the company's sites in France, including 11 factories for a period of 15 years. Apart from the CPPAs signed with EDF Renouvelables for the 2 parks, L'Oréal has also entered an electricity supply contract with EDF Group over 2024 and 2025 to supply its French production sites including volume of the PPA.
Another contract it has entered with is with EDF subsidiary Agregio that's responsible for aggregating production from these solar parks.
Aligned with its target to achieve carbon neutrality across all of its sites by 2025, these contracts will enable L'Oréal to secure fixed purchase prices for clean electricity over the long term. It also guarantees the renewable origin of the electricity purchased and will develop new capacities for its activities, added EDF.
One of the projects is scheduled to come online in Corrèze by Q3/2024 and the other in Vosges by Q2/2025. Once online, these 2 facilities will produce equivalent to 25% of L'Oréal's French electricity consumption, according to EDF.
"The production of our two future solar power plants will be added to that of another wind farm in operation which has been supplying electricity for L'Oréal's sites for two years now," said Director of PPAs in France at EDF Renewables, Alexandre Levy.
These contracts add to the EDF Group's 5.3 GW renewable energy PPAs signed since 2010. Under its EDF Solar Plan the group targets to have a 30% market share in French PV market.