Faurecia accelerates its strategy to become CO2 Neutral by purchasing renewable electricity on site
Faurecia, Company of the Group FORVIA, announced today that it has signed power purchase agreements (PPA) with ENGIE and EDP to equip over 150 sites in 22 countries with solar panels.
This partnership is a major milestone in Faurecia's roadmap to become CO2 neutral for its industrial operations (scopes 1 and 2) by 2025.
Producing renewable energy on our sites is a central commitment to meet our 2025 objective to become CO2 neutral for our in-house emissions. Leveraging strategic collaboration with global and leading partners allows us to speed up and improve our energy resilience in a more sustainable way. Also, it reflects our corporate responsibility to have a positive impact on society and meet the needs of future generations.
Faurecia will purchase on-site produced solar electricity worth 7% of its global electricity needs. This action will support the ambition to become CO2 neutral in industrial operation by 2025. Together with a targeted minimum of 20% energy intensity saving by 2023 against 2019, it will also contribute to make Faurecia less exposed to the future prices of energy, for a fraction of more than 27% of its past needs.
This 15 years contract with EDP and ENGIE illustrates the company’s “use less and use better principles”.
ENGIE and EDP, selected through a tender supported by Faurecia’s partner KPMG, will provide and install solar panels for a cumulative capacity of 100 MW at peak production by the end of 2023, representing about 100 hectares of solar panels on Faurecia’s sites globally. As much as 30% of this total capacity will already be installed before the end of 2022.
ENGIE and EDP will each cover different geographic zones across Faurecia’s global footprint. Brazil, the Czech Republic, France, Germany, Hungary, India, Mexico, Morocco, the Netherlands, Poland, Romania, Slovakia, South Africa and the United Kingdom are under ENGIE’s aegis. Portugal, Spain, Italy, the United States, China, South Korea, Japan and Thailand under EDP’s.
This solar energy program is another major step in ENGIE’s partnership with Faurecia and is key to support its ambitious carbon neutrality goals. It aims to not only drive down consumption but also to decarbonize the company’s electricity supply across its sites globally and demonstrates the key role ENGIE plays in its customers’ energy transition objectives.
This partnership demonstrates EDP's ability to respond to multinational clients looking to contract decentralized solar energy in different countries and to support the energy transition on a global scale. By adding 100MWp of distributed solar contracted capacity to our growing portfolio, EDP is one step closer to reaching a 10x growth by 2025, when compared to 2020.