Solvay and EDPR have signed an aggregration contract for the valorization of electricity produced by EDPR’s Flavin wind farm in France
Paris, March 20th, 2018 --- Solvay Energy Services, active in the purchase and sale of energy and EDP Renováveis (Euronext: EDPR), a global leader in the renewable energy sector and one of the world’s most important wind power producers, have signed a contract of aggregation in the framework of the new feed-in premium subsidy scheme established by the French government.
Through this long-term agreement, Solvay Energy Services will monetize the electricity produced by EDPR’s Flavin wind farm located in the south of France with an installed capacity of 11 MW.
The two companies are also discussing ways to expand their collaboration to new similar projects and to the growing PPA (Power Purchase Agreements) market in France and in other countries.
“Cooperation with industry leaders such EDPR allows Solvay to support our customer in sourcing competitive and renewable energy”, comments Pascal Chalvon Demersay, President of Solvay Energy Services and Solvay Chief Sustainability officer. “This approach is part of the Solvay group’s commitment to fight climate change”.
In turn, João Manso Neto, the CEO of EDPR, said: "We are very pleased to have reached an agreement with a firm like Solvay, a contract which demonstrates its commitment to sustainability and the renewable future. We are confident that this is just the start of a long relationship and that it will be expanded to other markets soon”.
Solvay Energy Services, built around Solvay Group’s expertise in energy and CO2 management for its industrial sites, has more than 15 years of experience in the European energy markets. They provide energy supply and offtake strategies tailored to their client’s needs to make their business more competitive and profitable. A pioneer in sustainable development, Solvay Energy Services manages 1 billion euros of purchases and offers renewable energy producers effective and profitable solutions to enhance the value of their production. More information on www.solvay-energy.com
Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 26,800 employees in 61 countries. Net sales were €10.1 billion in 2017, with 90% from activities where Solvay ranks among the world’s top 3 leaders, resulting in an EBITDA margin of 22%. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded through a level-1 ADR program. Financial figures take into account the announced divestment of Polyamides.