L’Oréal Signs Deals to Cover 25% of Electricity Consumption in France with Renewable Energy
L’Oréal Group announced that it has signed agreements with power producer and service provider EDF to provide renewable energy from 2 new solar parks, capable of producing the equivalent of 25% of the beauty company’s electricity consumption in France.
Under the new power purchase agreement (PPA), EDF will supply L’Oréal with the entire production from solar parks located in the Corrèze and Vosges regions in France, to be built and operated by EDF Renewables, with a combined installed capacity of 27 MWp. The Corrèze and Vosges plants are expected to be commissioned in late 2024 and early 2025, respectively.
The agreement also includes a contract with EDF subsidiary Agregio, to aggregate the production from the new solar plants, to ensure the delivery of a fixed supply of electricity to L’Oréal.
Alexandre Levy, Director of PPAs in France at EDF Renewables said:
“We are proud to sign a new long-term partnership with the L’Oréal Group, and thus to contribute to its decarbonization objectives. The production of our two future solar power plants will be added to that of another wind farm in operation, which has been providing electricity for L’Oréal’s sites for two years now.”
According to L’Oréal, the new agreements with EDF will support the company’s sustainability goals under its “L’Oréal for the future” strategy, which include targets to reach carbon neutrality and 100% renewable energy use at all sites by 2025.
Audrey Izard, L’Oréal Group Chief Purchasing Officer – Indirect Sourcing, said:
“This PPA is in line with our commitments made within the framework of the L’Oréal Program for the Future in order to sustainably consume renewable energy for all of our activities. For L’Oréal, creating beauty that responsibly moves the world forward requires close collaboration with our partners.”