21 Sep 2023

France's Saint-Gobain Signs Deal to Buy Renewable Electricity From Totalenergies

21 Sep 2023  by reuters   
French construction company Saint-Gobain (SGOB.PA) has signed a deal to buy solar power from energy giant TotalEnergies (TTEF.PA), it said on Wednesday.

As part of the 15-year deal, called Danish Fields, Saint-Gobain will purchase 100 megawatts (MW) of renewable electricity for 125 of its industrial sites in the United States and Canada, with the project set to commence by the end of 2024.

It is Saint-Gobain's third power purchase agreement in North America, with the three deals expected to jointly reduce the company's scope 2 emissions on the continent by 70% from 2017 levels.

Saint-Gobain added on Wednesday that it expects Danish Fields alone to reduce North American scope 2 CO2 emissions from electricity by 90,000 metric tons per year.

Scope 2 refers to indirect emissions related to a firm's power purchases.


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