The VELUX Group and Schneider Electric announce partnership to pursue renewable Power Purchase Agreements (PPAs)
The VELUX Group and Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced they will pursue renewable Power Purchase Agreements (PPAs), in a partnership. This will further the world’s leading roof window manufacturer’s efforts to deliver on its 100% renewable electricity (RE100) target by 2023, which is part of its company carbon neutral goal for 2030.
The prospective PPAs aim to enable the development of new renewable energy projects across Europe, with Schneider Electric supporting the VELUX Group in the procurement process as a full-service buyer’s advisor. The VELUX Group’s primary motivation is to achieve its RE100 target and bring new renewable energy onto the grid.
This effort is one part of the VELUX Group’s commitment to become a 100 percent carbon neutral company (scope 1 and 2). Furthermore, it is working to halve carbon emissions across its value chain (scope 3) by 2030. At the same time, the Group will capture its historical carbon footprint – dating back to its founding in 1941 – through forest conservation projects, identified and managed by Worldwide Fund for Nature (WWF). Together, these initiatives are expected to support the VELUX Group’s overall commitment to be Lifetime Carbon Neutral by 2041.
The prospective PPAs aim to represent a mix of clean technologies, with VELUX looking to secure a long-term commitment to purchase power at a fixed price. A PPA provides renewable energy developers the business case needed to establish new, clean power generation. For VELUX, a PPA will ensure stability and predictability in electricity prices and enable the company to address its scope 2 greenhouse gas emissions.
The VELUX Group is seeking to pursue new non-subsidised renewable energy projects in EU countries, ensuring clean energy is added to the grid and thereby replacing “brown” power produced from fossil fuels in the most additional way.
“The planet is facing dual climate and nature crises and we are committed to doing our part to achieve a more sustainable future. We’re proud to be among the first companies in the world – and the first company in the construction industry – to take responsibility for both past and future carbon emissions with our Lifetime Carbon Neutral commitment, and this partnership with Schneider Electric is an important part of this”, said Jörn Neubert, Senior Vice President of Supply, the VELUX Group”
About the VELUX Group
For almost 80 years, The VELUX Group has created better living environments for people around the world; making the most of daylight and fresh air through the roof. Our product programme includes roof windows and modular skylights, decorative blinds, sun screening products and roller shutters, as well as installation and smart home solutions. These products help to ensure a healthy and sustainable indoor climate, for work and learning, for play and pleasure. We work globally – with sales and manufacturing operations in more than 40 countries and around 11,500 employees worldwide. The VELUX Group is owned by VKR Holding A/S, a limited company wholly owned by non-profit, charitable foundations (THE VELUX FOUNDATIONS) and family. In 2019, VKR Holding had total revenue of EUR 2.9 billion and THE VELUX FOUNDATIONS donated EUR 178 million in charitable grants.
For more information, visit velux.com.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries. We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
For more information, visit se.com.