HEINEKEN, Nouryon, Philips and Signify have formed the first consortium to sign a Pan-European green energy deal securing additional renewable electricity for Europe. The four companies have a shared vision to further reduce CO2 emissions in support of the UN Paris Agreement and the European Green Deal objectives.
The companies joined forces to support the development of 35 wind turbines in the Mutkalampi municipality in Finland, which is scheduled for completion in 2023. The virtual PPA covers an expected output volume of 330 GWh per year - equivalent to the annual electricity consumption of 40,000 households. Compared to the average European electricity generation, this renewable electricity will help to avoid over 230,000 tons of CO2 emissions per year.
The consortium has committed to contracting renewable electricity from the wind farm for the first 10 years through a virtual PPA. The electricity will be physically delivered to the Finnish grid while the four consortium partners benefit from the Guarantees of Origin. This provides income stability for the renewable project while guaranteeing clean energy benefits for the corporate buyers.
While the companies have signed PPAs for renewable electricity in the past, this is the first time such a consortium has formed a virtual PPA to drive incremental renewable electricity for Europe.
Through this consortium, HEINEKEN will source renewable electricity for an additional 31 of its European production sites1, Nouryon will continue its progress in reducing CO2 emissions by 25% by 2025, Philips secures renewable electricity supply to power its European operations for a 10-year period and Signify solidifies its leading position on 100% renewable electricity use and doubling the pace to reach the Paris Agreement over their value chain by 2025.
1Across 13 of its European Operating Companies in Romania, Portugal, Belgium, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Ireland, Serbia, Slovakia, Slovenia and Switzerland.
The new wind farm will be realized by Neoen, an independent French producer of renewable energy. The four parties were advised on the consortium by Schneider Electric.
About Heineken
HEINEKEN is the world's most international brewer. It is the leading developer and marketer of premium beer and cider brands. Led by the Heineken® brand, the Group has a portfolio of more than 300 international, regional, local and specialty beers and ciders. HEINEKEN is committed to innovation, long-term brand investment, disciplined sales execution and focused cost management. Through 'Brewing a Better World', sustainability is embedded in the business. HEINEKEN has a well-balanced geographic footprint with leadership positions in both developed and developing markets. It employs over 85,000 employees and operates breweries, malteries, cider plants and other production facilities in more than 70 countries. Heineken N.V. and Heineken Holding N.V. shares trade on the Euronext in Amsterdam. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on Reuters under HEIN.AS and HEIO.AS. HEINEKEN has two sponsored level 1 American Depositary Receipt (ADR) programmes: Heineken N.V. (OTCQX: HEINY) and Heineken Holding N.V. (OTCQX: HKHHY). Most recent information is available on HEINEKEN's website: www.theHEINEKENcompany.comand follow us on LinkedInand Twitter.
About Nouryon
We are a globalspecialty chemicals leader. Markets worldwide rely on our essential chemistry in the manufacture of everyday products, such as paper, plastics, building materials, food, pharmaceuticals, and personal care items. Building on our nearly 400-year history, the dedication of our 10,000 employees, and our shared commitment tobusiness growth, strong financial performance, safety,sustainability, and innovation, we have established a world-class business and built strong partnerships with our customers. We operate in over 80 countries around the world and our portfolio of industry-leading brands includes Eka, Dissolvine, Trigonox and Berol. Visit ourwebsiteand follow us@Nouryonand onLinkedIn.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being, and enabling better outcomes across the health continuum - from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries. News about Philips can be found atwww.philips.com/newscenter.
About Signify
Signify(Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. OurPhilipsproducts,Interactconnected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. With 2019 sales of EUR 6.2 billion, we have approximately 37,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. Weachievedcarbon neutrality in 2020, havebeenin the Dow Jones Sustainability World Index since our IPO for four consecutive years and were namedIndustry Leaderin2017,2018and2019. News from Signify is located at theNewsroom,Twitter,LinkedInandInstagram. Information for investors can be found on theInvestor Relationspage.
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Heineken NV published this content on 11 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 December 2020 07:08:08 UTC