Global cable and optical fibre manufacturer, Nexans is set to execute a Pan-European Virtual Power Purchase Agreement to cover most of its electricity consumption for all its premises in Europe, to achieve its decarbonization goals. The company has assigned global energy management company World Kinetic Energy Services as an exclusive advisor to support an end-to-end execution process. Nexans has pledged to contribute to carbon neutrality by reducing by 4.2% in average each year its GHG emissions and by transitioning to 100% Renewable Electricity by 2030.
March 10, 2023
Nexans is taking a step towards achieving its decarbonization goals and is set to execute a Pan-European Virtual Power Purchase Agreement to cover most of its electricity consumption for all its premises in Europe. By executing a Pan-European VPPA, Nexans will be directly involved in financing and realization of new renewable energy assets in the region. Nexans has appointed World Kinect Energy Services, a global energy management company as an exclusive advisor to support an end-to-end execution process.
Watch: RR Kabel | Shreegopal Kabra | Fire Safety | Fire Survival Cables
This partnership with World Kinect consists of an end-to-end advisory program supporting Nexans’ decarbonization efforts. This exclusive arrangement helps Nexans reach its RE100 targets while building stakeholder alignment and minimizing market price exposure. In the coming weeks, Nexans will be consulting the market with the support of World Kinect Energy Services to solicit offers to find the best project that is most matching its needs.
As a key player of sustainable electrification, Nexans has pledged to contribute to carbon neutrality by reducing by 4,2% in average each year its GHG emissions and by transitioning to 100% Renewable Electricity by 2030. In this respect, at the end of 2020 Nexans joined the Climate Group’s RE100 initiative, which is a global initiative bringing together the world’s most powerful businesses driving the transition to 100% renewable electricity.
Also Read: Bekaert Declares Sale of Chile & Peru based Steel Wire Solutions Businesses
Mr. Olivier Chevreau, Nexans’ VP Sustainability commented, “ Since several years, Nexans is deploying energy efficiency measures and renewable generation in its sites. This power purchase agreement will add another step in this journey, securing on the long term, electricity from renewable sources. ”
