December 5 (Renewables Now) - French renewables company Voltalia SA (EPA:VLTSA) said on Wednesday it has formed a partnership with local bank Credit Mutuel Alliance Federale that will lead to the signing of a 25-year corporate power purchase agreement (PPA).
To serve the new contract, Voltalia will build a solar power plant in France with a capacity of at least 10 MW. It did not give more details about the upcoming project.
According to the announcement, this is the first time in France that a bank commits to a long-term corporate PPA with a renewable power producer. The contract will see the lender meet 5% of its global power consumption with electricity supplied by Voltalia.
Credit Mutuel Alliance Federale aims to reduce its carbon footprint by 30% by 2023.