AXA Commits to the Development of Renewable Energy in Europe

AXA announced that it has signed a ten-year Virtual Power Purchase Agreement (VPPA) with IGNIS, a Spanish integrated renewable energy group. A VPPA makes it possible both to contribute to the equivalent of all or part of a consumer’s energy needs and to supply the grid with renewable electricity.

The contract signed by AXA concerns a solar power plant in Spain, in the Andalusia region, where construction will begin shortly, with the objective of being operational by May 2025.

Under the agreement, AXA undertakes to purchase 90% of the renewable electricity produced by this future power plant, i.e. 84 GWh per year. This is equivalent to the electricity consumption of the buildings and data centers of the Group’s European entities.

Schneider Electric, the leading advisor on global corporate renewable energy procurement, supported AXA in the selection of their projects and negotiations in the VPPA.

AXA announced today that it has signed a ten-year Virtual Power Purchase Agreement (VPPA) with IGNIS, a Spanish integrated renewable energy group. A VPPA makes it possible both to contribute to the equivalent of all or part of a consumer’s energy needs and to supply the grid with renewable electricity.

The contract signed by AXA concerns a solar power plant in Spain, in the Andalusia region, where construction will begin shortly, with the objective of being operational by May 2025.

Under the agreement, AXA undertakes to purchase 90% of the renewable electricity produced by this future power plant, i.e. 84 GWh per year. This is equivalent to the electricity consumption of the buildings and data centers of the Group’s European entities.

Schneider Electric, the leading advisor on global corporate renewable energy procurement, supported AXA in the selection of their projects and negotiations in the VPPA.