Boralex Indications a New Renewable Power Purchase Agreement, to Benefit IBM France
- Boralex Inc. (" Boralex" or the "Corporation") (TSX: BLX) introduces the signing of a company PPA1, whereby the Corporation will provide IBM's France-based locations with sustainable electrical power. The agreement, effective January 1, 2021, covers a five-year duration.
Via this agreement, Boralex, a renewable resource leader and also the biggest independent manufacturer of onshore wind power in France, will supply IBM with sustainable power, equal to 55% of the yearly intake of IBM's France-based sites as well as information facilities. This is part of IBM's effort to utilize 100% renewable electrical energy in France. The power will be sourced from Boralex's wind asset portfolio, specifically from possessions whose agreements with EDF will certainly have ended.
The last agreement entails three business on the French market: Boralex, as an environment-friendly energy producer, will use its commercial property monitoring competence to supply power to IBM France, the last customer, as well as Axpo Solutions, which will aggregate the sustainable power codified in the agreement.
2023 strategy as well as CSR: Boralex confirms its commitments
With this 3rd corporate PPA authorized with a large power-consuming business since 2020, Boralex is staying the course on its 2023 Strategic Plan's pillars to straight get with such companies. Boralex, whose initial corporate social duty report was released February 25, 2021, is dedicated to its CSR program and also highlights the uniformity in between the company and also its customers' commitments.
IBM's verifiable dedication to sustainability go back decades with the issuance of its formal corporate environmental policy in 1971. Previously this year IBM updated its energy and also climate objectives which included a 3rd generation renewable electrical energy objective to source 75% of its worldwide electrical power consumption from renewables by 2025 as well as 90% by 2030. Fulfilling these goals will be key to accomplish IBM's goal of internet absolutely no GHG exhausts by 2030.
"We're proud to sustain such a world-renowned firm as IBM, alongside our relied on partner Axpo, and also to contribute in a very tangible method to the activities it's taking to advertise the energy shift. Because 2019, our Energy Markets Department worked to create business power purchase agreements like this, for commercial and also business clients throughout France. This brand-new agreement shows that we're staying the course. It likewise reveals our ability to diversify our client portfolio and grow our presence in brand-new business markets," stated Nicolas Wolff, Vice President as well as General Manager Boralex, Europe.
"Raising our purchase of eco-friendly electrical power in France is a vital action in the direction of fulfilling our 5th generation greenhouse gas emissions decrease objective. We value working with Boralex as well as Axpo on this important project," claimed Jay Paidipati, Global Energy Manager, IBM.