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L’Oréal Signs Electricity Contracts with EDF

Partnership will help L’Oréal achieve carbon neutrality for all its sites by 2025.

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By: Charlie Sternberg

Associate Editor

French electric utility company EDF has signed two new electricity contracts with L’Oreal to help the France-based global cosmetics company achieve carbon neutrality for all its sites by 2025.
 
The contracts include the direct purchase by L’Oreal Group of electricity from renewable sources with EDF Renouvelables under a Corporate Power Purchase Agreement (C-PPA), from the production of two solar farms aggregated by EDF’s subsidiary Agregio.
 
They also include an electricity supply contract with EDF over 2024 and 2025 to supply L’Oréal’s production sites in France, including volume from the C-PPA.
 
The direct purchases cover the supply for 15 years of the entire production of two solar power plants to be built and operated by EDF Renewables, with a combined installed capacity of 27 megawatt-peak (MWp).
 
The first solar power plants should be operational by the third quarter of 2024 and the second by the second quarter of 2025. They will produce about 25% of L’Oréal Group’s electricity consumption in France.

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