Commercial, Sourcing Renewables - March 16, 2023
Nexans Signs VPPA, On Track to Transition to 100% RE
Nexans plans to executive a Pan-European Virtual PPA (Power Purchase Agreement) to cover most of its electricity consumption for all its premises in Europe. Through this agreement, the company will be directly involved in financing and realization of new renewable energy assets in the region.
As a key player of sustainable electrification, Nexans pledged to contribute to carbon neutrality by reducing by 4.2% in average each year its GHG emissions and by transitioning to 100% renewable electricity by 2030.
Nexans appointed World Kinect Energy Services, a subsidiary of World Fuel Services as an exclusive advisor to support an end-to-end execution process.
This partnership with World Kinect involves an end-to-end advisory program in support of Nexans’ decarbonization efforts and helps Nexans reach its RE100 targets while building stakeholder alignment and minimizing market price exposure.
In the coming weeks, Nexans will be consulting the market with the support of World Kinect Energy Services to solicit offers to find the best project that is most matching its needs.
“This power purchase agreement will add another step in this journey, securing on the long term, electricity from renewable sources,” Olivier Chevreau, Nexans vice president of sustainability, said in a statement.
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