Commercial, Solar, Sourcing Renewables - January 26, 2024
H&M Group Signs PPAs for Three Solar Projects
H&M Group, a global fashion retailer, signed power purchase agreements (PPAs) for the construction of three solar parks in Sweden.
The agreement was signed with Alight, a European solar developer and independent power producer.
The ground-mounted solar parks will be located in Blekinge, Södermanland, and Halland with a capacity of 13 MW, 6 MW, and 4 MW, respectively.
Construction of the park in Blekinge already started, while the latter two parks will begin construction in the spring.
The solar parks will be operational in early 2025 and will provide H&M Group with renewable electricity. Once operational, Alight will own and operate the solar parks.
The three solar projects will generate at least 24 GWh of clean electricity.
In December 2022, H&M Group and Alight signed a PPA to build a 100 MW solar park in Hultsfred, Sweden, which is jointly developed and owned with French renewable energy company Neoen.
“We are thrilled to have the possibility to add three new solar parks to the previous PPA we signed with Alight in 2022, getting us closer to our goal to only source renewable electricity by 2030. Renewable energy is a cornerstone of our roadmap to reduce emissions and achieve net zero by 2040 and agreements like this one with Alight play a big part in our journey,” said Ulrika Leverenz, Head of Green Investment H&M Group, in a statement.
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