Tuesday 30 January 2024

H&M strikes solar park deal

H&M strikes solar park deal

Global fashion retailer H&M Group has finalised a partnership for the development of three solar parks in Sweden.

The company has signed power purchase agreements (PPAs) with Alight.

The parks, situated in Blekinge, Södermanland and Halland, are anticipated to collectively generate a minimum of 24GWh annually.

The construction is already underway, with plans for operational readiness by early 2025.

Ulrika Leverenz, Head of Green Investment of H&M Group, said: "We are thrilled to have the possibility to add three new solar parks to the previous PPA we signed with Alight in 2022, getting us closer to our goal to only source renewable electricity by 2030.

"Renewable energy is a cornerstone of our roadmap to reduce emissions and achieve net zero by 2040 and agreements like this one with Alight play a big part in our journey."

Written by

Sumit Bose

Trending Articles