Global building materials company, Kingspan, has signed a power purchase agreement (PPA) with solar energy company Alight. Alight will invest in, deliver and manage a rooftop photovoltaic plant at Kingspan’s state of the art factory in Stigamo, Sweden.
The solar rooftop installation will produce approximately 1.15 GWh a year and the agreement will cover 20% of the factory’s total electricity requirements.
Once completed later this year, the Stigamo factory solar rooftop plant will be the largest BTM (behind the meter) corporate PPA in the region.
Headquarted in Ireland, Kingspan has long been committed to accelerating a net zero emissions future. The agreement with Alight, which extends over 25 years, will help the group hedge its electricity costs, reduce its environmental impact and protect against volatility in the electricity market.
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“Climate change is the most important issue facing the world, and the construction industry has an important role to play in climate change mitigation. We believe in low energy buildings for a clean energy future and solar energy is part of that future,” says Anja Cronholm, Marketing Manager Nordic & Baltics at Kingspan.
“We are extremely pleased to announce our collaboration with Kingspan. Rooftops are largely underutilized areas in Sweden, and many industrial rooftops here are well suited for solar power generation. Solar rooftop installations are a good complement to purchasing electricity from large-scale solar parks,” says Harald Överholm, CEO of Alight.
Kingspan is a member of RE100, a global initiative that brings together the world’s most influential companies committed to using 100% renewable electricity.
“The corporate PPA market in Europe is growing rapidly, thanks in large part to pioneering projects like this. RE-Source congratulates Kingspan and Alight Energy on their innovative work and looks forward to seeing more projects like this in the future,” says Hannah Hunt, Impact Director at RE-Source, Europe’s leading forum for corporate purchasing of renewable energy founded by, among others, RE100.
Join us for our webinar tomorrow, where Harald Överholm, CEO of Alight Energy, will discuss on-site renewable electricity and storage with experts from IKEA, Decathlon and SolarPower Europe.