Signify signs VPPA with Green Investment Group, blowing fresh breeze of renewable energy into Polish operations

October 2, 2019

Signify signs its first European renewable energy virtual power purchase agreement (VPPA) in a 10-year deal with Green Investment Group’s (GIGs) Kisielice onshore wind farm in Poland
Signify’s Polish facilities are responsible for more than 25% of its global electricity footprint
The VPPA marks a major milestone in Signify’s commitment to become carbon neutral in 2020

Eindhoven, the Netherlands – For the next ten years, Signify (Euronext: LIGHT), the world leader in lighting, will purchase renewable energy for its operations in Poland from the Green Investment Group’s (GIG’s) Kisielice onshore wind farm.

Kisielice wind farm is a 42-megawatt (MW) project located 200 kilometers north of Warsaw and was acquired by GIG in August. It has been operational since 2014 and consists of 21 Enercon E82 turbines. The wind power sourced under the VPPA will be applied to power four of Signify’s factories and several offices throughout Poland. The VPPA helps Signify reduce its annual carbon footprint by 73 kt CO2e pa – the equivalent of removing over 23,000 cars from the road.

This VPPA is a major milestone on our journey to become carbon neutral in 2020. It's crucial for our transition to 100% renewable electricity next year, as well as supporting Poland’s energy transition."

Nicola Kimm,

Head of Sustainability, Environment, Health & Safety at Signify

Signify pursued renewable electricity in Poland as its operations there are responsible for more than 25% of the company’s global electricity footprint. As 80% of electricity in Poland is currently generated from coal, this renewable energy agreement is significant for Signify’s operations in the country. Renewable PPAs will play a role in supporting Poland to reach its 2030 country goal that 21% of overall energy consumed will be from renewable sources.

This agreement, which is Signify’s first VPPA in Europe, is the result of a competitive tender process. GIG was selected because of its depth of experience in the PPA market. GIG has now structured and executed PPAs for nearly one GW of renewable energy capacity across Europe.

More and more firms, like Signify, are setting clear carbon-reduction targets – which is boosting demand for renewable power. We have a well-established track record in financing and delivering these kinds of PPAs and are delighted to have worked with Signify on our first such project in Poland."

Edward Northam,

Head of GIG Europe

Schneider Electric Energy & Sustainability Services (ESS) was an advisor to Signify on the process of identifying and selecting the project.

“Signify is demonstrating significant leadership with this VPPA,” said Philippe Diez, Vice President EMEA for the ESS division. “It’s the first publicly announced VPPA in Poland supporting renewables in a market dominated by fossil fuels. We congratulate Signify for their steadfast commitment to carbon reduction and a renewable energy future.”

Corporate VPPAs are increasingly popular in Europe to reduce carbon emissions. They also play a critical role in accelerating the growth of renewables in markets where there’s little to no subsidy provided. Under this approach, the renewable power is sold onto the grid with the business user providing a guaranteed strike price – providing income stability for the renewable project while guaranteeing clean energy benefits for the corporate buyer.

For more information on Signify’s commitments to sustainability, visit our website:
https://www.signify.com/global/sustainability/brighter-lives-better-world

For further information, please contact:

Signify Corporate Communications

Elco van Groningen

Tel: +31 6 1086 5519

E-mail: elco.van.groningen@signify.com

Media Assets

Images

Wind turbine in Poland

Documents

Signify signs VPPA with Green Investment Group, blowing fresh breeze of renewable energy into Polish operations

About Signify

Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. With 2018 sales of EUR 6.4 billion, we have approximately 28,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We have been named Industry Leader in the Dow Jones Sustainability Index for three years in a row. News from Signify is located at the Newsroom, Twitter, LinkedIn and Instagram. Information for investors can be found on the Investor Relations page.

More press releases

April 26, 2024

Signify's first quarter results 2024

Read more
April 18, 2024

Signify introduces ambitious Net Zero emissions reduction targets

Read more
April 03, 2024

Signify introduces new UltraEfficient and 3D printed innovations

Read more

All press releases

Signify signs VPPA with Green Investment Group, blowing fresh breeze of renewable energy into Polish operations

October 2, 2019

This VPPA is a major milestone on our journey to become carbon neutral in 2020. It's crucial for our transition to 100% renewable electricity next year, as well as supporting Poland’s energy transition."

More and more firms, like Signify, are setting clear carbon-reduction targets – which is boosting demand for renewable power. We have a well-established track record in financing and delivering these kinds of PPAs and are delighted to have worked with Signify on our first such project in Poland."

For further information, please contact:

Media Assets

About Signify

More press releases

We'd love to hear from you