Carrefour Partners with VSB for 43.3-MW Green Power

• Carrefour powers up its sustainability journey, securing green energy from VSB Group's wind and solar plants, lighting the way to 100% renewable sourcing by 2030.

Carrefour has signed long-term power purchase agreements (PPAs) with VSB Group to procure green energy from a 43.3-MW portfolio of wind and solar plants in France. The renewable electricity will be sourced from two wind farms in Brittany and Occitania and three photovoltaic plants across various regions, benefiting 26 of Carrefour’s hypermarkets. This initiative supports Carrefour's objective to achieve 100% renewable energy sourcing by 2030.

Felix Grolman, CEO of VSB Group, highlighted that this partnership promotes renewable energy use and creates economic value. Additionally, Carrefour recently agreed to a separate contract with Qair for a 52-MWp solar farm in Italy, ensuring 75 GWh of renewable energy annually for its stores.

How do Carrefour's new PPAs advance its renewable energy goals for 2030?

Carrefour's newly signed Power Purchase Agreements (PPAs) are significant steps towards meeting the company's ambitious renewable energy goals for 2030. Here are key points outlining how these agreements advance their objectives:

• Long-Term Commitment: The signing of long-term PPAs with VSB Group indicates Carrefour’s commitment to integrating renewable energy into its operations over the long haul, establishing a stable framework for energy procurement that aligns with its sustainability goals.
• Diverse Energy Sources: By sourcing renewable energy from both wind and solar facilities, Carrefour diversifies its energy portfolio. This strategy allows the company to reduce dependency on a single energy type while enhancing supply security.
• Localized Energy Production: The procurement of energy from facilities located in France, including wind farms in Brittany and Occitania, supports local energy markets, fosters regional economic development, and minimizes transmission losses associated with long-distance energy transport.
• Support for Hypermarkets: The renewable electricity generated from these agreements will supply 26 Carrefour hypermarkets, directly reducing their carbon footprint and setting a precedent for energy responsibility within the retail sector.
• Partnerships for Growth: Collaborating with renewable energy companies like VSB Group and Qair underscores Carrefour's strategy of forming partnerships that not only supply energy but also promote sustainable industry practices and innovation in renewable technologies.
• Enhancing Green Credentials: As Carrefour moves closer to its goal of 100% renewable energy sourcing by 2030, these PPAs significantly bolster its green credentials, appealing to environmentally conscious consumers and investors.
• Contribution to National and Global Goals: Carrefour’s actions contribute to broader national and global objectives for reducing greenhouse gas emissions, aligning corporate strategies with international commitments such as the Paris Agreement.
• Reinforcing Corporate Social Responsibility (CSR): The agreements align well with Carrefour’s CSR initiatives, showcasing the company’s responsibility towards environmental sustainability and its leadership role in the retail industry.
• Positive Economic Impact: As highlighted by Felix Grolman, the CEO of VSB Group, the partnership promises economic benefits, such as job creation and investment in renewable infrastructure, contributing positively to local economies.
• Annual Renewable Energy Assurance: The additional contract with Qair for a solar farm in Italy, which will supply 75 GWh of renewable energy annually, exemplifies Carrefour’s strategic approach to securing reliable annual energy supplies to meet its operational needs sustainably.

Through these PPAs and related initiatives, Carrefour not only advances its renewable energy goals but also sets a robust example for other companies in the retail sector aiming for similar sustainability objectives.