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Eindhoven, the Netherlands – For the next ten years, Signify (Euronext: LIGHT), the world leader in lighting, will purchase renewable energy for its operations in Poland from the Green Investment Group’s (GIG’s) Kisielice onshore wind farm.
Kisielice wind farm is a 42-megawatt (MW) project located 200 kilometers 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.
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% of the company’s global electricity footprint. As 80% of electricity in Poland is currently generated from coal, this renewable energy agreement is significant for Signify’s operations in the country. Renewable PPAs will play a role in supporting Poland to reach its 2030 country goal that 21% 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.
Edward Northam,
Head of GIG Europe
Schneider Electric Energy & Sustainability Services (ESS) was an advisor to Signify on the process of identifying and selecting the project.
“Signify is demonstrating significant leadership with this VPPA,” said Philippe Diez, Vice President EMEA for the ESS division. “It’s the first publicly announced VPPA in Poland supporting renewables in a market dominated by fossil fuels. We congratulate Signify for their steadfast commitment to carbon reduction and a renewable energy future.”
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.
For more information on Signify’s commitments to sustainability, visit our website:
https://www.signify.com/global/sustainability/brighter-lives-better-world
Signify Corporate Communications
Elco van Groningen
Tel: +31 6 1086 5519
E-mail: elco.van.groningen@signify.com
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. With 2018 sales of EUR 6.4 billion, we have approximately 28,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We have been named Industry Leader in the Dow Jones Sustainability Index for three years in a row. News from Signify is located at the Newsroom, Twitter, LinkedIn and Instagram. Information for investors can be found on the Investor Relations page.
