Societe Generale and JP Energie Environnement Ink 20-Year Solar Energy Deal

Societe Generale group has announced the signing of a significant 20-year Power Purchase Agreement (PPA) with French producer JP Energie Environnement (JPee), marking a pivotal step in accelerating the development of green energy production capacities in France.

The collaboration aims to establish a photovoltaic power plant in the municipality of Arpheuilles, located in the Centre-Val de Loire region of central France. Scheduled for completion in 2026, the plant is projected to cover between 10% to 15% of Societe Generale’s central services and network’s annual energy consumption, amounting to an estimated 16.7 GWh per year.

JPee will install solar panels on 14.2 hectares of pastured land within the solar park in Arpheuilles while ensuring the preservation of agricultural activity, particularly sheep farming, on-site. The energy generated by the solar panels, selected for their low carbon footprint, will be integrated into the French electricity grid.

This strategic partnership not only reinforces the competitiveness of independent producer JPee in France’s renewable energy market but also facilitates project financing for new facilities and investments. The PPA framework marks the fourth long-term electricity supply contract secured by JPee since 2023, highlighting its commitment to sustainable energy solutions.

Societe Generale’s involvement underscores its dedication to the energy transition and aligns with the Group’s decarbonization trajectory. Notably, in 2019, Societe Generale became the first bank in France and one of the earliest companies to sign a 3-year wind energy supply contract with EDF, further solidifying its commitment to sustainable practices.