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Renault Signs France’s Largest Green Power-Purchase Deal

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(Bloomberg) — Renault SA is buying solar power from Voltalia SA over 15 years in what is France’s biggest renewable corporate power-purchase agreement.

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Voltalia will install 100 megawatts of solar panels on the carmaker’s sites across France from 2025, with that number rising to 350 megawatts by 2027, the Paris-based company said Thursday.

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The deal, which is part of the carmaker’s efforts to reduce its carbon footprint, comes as businesses across Europe grapple with soaring energy costs caused by Russia’s dwindling gas deliveries and Electricite de France SA’s atomic power production issues.

Renault separately struck two other agreements as the carmaker accelerates plans to decarbonize plants in its home market. A partnership with Electricite de France’s Dalkia unit will allow the company to install a biomass boiler at the Maubeuge site, as well as teaming up with Engie SA for a deep geothermal project for the Douai factory.

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“We are taking a strategic step towards achieving carbon neutrality in our plants,” Renault Chief Executive Officer Luca de Meo said in a statement. The automaker also is “working towards carbon-free heat” to power plants.

The 15-year partnership with Engie to supply Renault’s Douai plant with carbon-free heat will allow the site to replace 70% of its gas needs from local and renewable sources, Renault said. 

Click here for BloombergNEF’s interactive corporate PPA tracker 

Voltalia rose as much as 4.2% in Paris trading, and was up 1% at 11:26 a.m.

(Updates with detail of EDF, Engie agreements)

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