Chemicals firm Arkema signs 400-GWh solar PPA in France

French chemicals company Arkema SA (EPA:AKE) announced today that it has sealed a deal to buy 20 GWh of solar electricity per year from the renewables arm of French power company EDF.

The 20-year power purchase agreement (PPA) inked with EDF Renewables will secure 70% of the domestic electricity needs of Arkema's specialty adhesives subsidiary Bostik, namely its eight sites in France.

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The solar PPA backs Bostik’s ongoing efforts to reduce the carbon dioxide (CO2) emissions from their activities and comes as part of the measures taken by Arkema to reduce its CO2 emissions in line with the 1.5°C trajectory by 2030.

“By choosing to source electricity from locally produced renewable sources, Bostik strengthens its commitment to increasingly decarbonized production, firmly positioning itself towards a more environmentally friendly economy, in line with Arkema's overall vision,” said Vincent Legros, executive vice president of the adhesive solutions segment (Bostik).