French retailer Boulanger has signed what’s claimed to be the country’s first corporate power purchase agreement (PPA) of its type with renewables developer Voltalia.
The 25-year direct contract will underpin development of a 5MW solar project by Voltalia, to come online in 2022.
Boulanger – which operates about 150 stores in France – said the PV array will account for about 10% of its total power needs.
The retailer will have a 100% renewable coverage as early as this year thanks to arrangements with existing suppliers that source hydropower, it added.
Renewable corporate PPAs, which achieved early momentum in the US, are increasingly gaining traction in Europe as wind and solar costs fall, and companies use them to meet their own green energy objectives.