EDF seals solar PPAs to back L'Oreal's carbon neutrality plan

French power major EDF (EPA:EDF) has signed power purchase agreements (PPAs) with L'Oreal Group for 27 MWp of solar capacity, backing the cosmetics maker’s goal of becoming carbon neutral at all of its sites by 2025.

The power off-take deals are linked to two photovoltaic (PV) projects to be built by EDF Renouvelables, the renewable energy arm of EDF, the parent company said on Tuesday. The contracts were signed for 15 years.

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To be installed in the departments of Correze and Vosges, the two solar plants are due to begin power generation by the third quarter of 2024 and the second quarter of 2025, respectively. Their output will cover around 25% of L’Oreal’s domestic power consumption.

The production of the two solar parks will be aggregated by EDF's subsidiary Agregio.

At the same time, L’Oreal has renewed its electricity supply contract with EDF, bundling in the new PPAs and additional consumption coverage by guarantees of origin. Thus, the company has secured the power supply for its roughly 30 production sites in France for the period 2024-2025.