Blowing a fresh breeze of renewable energy into operations

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. 

“This VPPA is a major milestone on our journey to become carbon neutral in 2020,” said Nicola Kimm, Head of Sustainability, Environment, Health & Safety at Signify. “It's crucial for our transition to 100% renewable electricity next year, as well as supporting Poland’s energy transition.”

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. 

“More and more firms, like Signify, are setting clear carbon-reduction targets – which is boosting demand for renewable power,” said Edward Northam, Head of GIG Europe. “We have a well-established track record in financing and delivering these kinds of PPAs and are delighted to have worked with Signify on our first such project in Poland.”

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.