Published on 29/04/2024

Societe Generale and JP Energie Environnement sign a 20-year solar energy supply contract

Societe Generale group announces the signing of a 20-year Power Purchase Agreement (PPA*) with the French producer JP Energie Environnement (JPee), enabling the creation of a photovoltaic power plant in France. This initiative is part of the ambition shared by both companies to accelerate the development of new green energy production capacities in support of the energy transition.

This long-term commitment aims at the creation of a photovoltaic power plant located in the municipality of Arpheuilles in the Centre-Val de Loire region of central France. The electricity production of this plant, scheduled for delivery in 2026, is intended to cover between 10% to 15% of the annual consumption of the Bank's central services and network in France, i.e. an estimated amount of energy of 16.7 GWh per year.

The project consists of the producer installing solar panels on 14.2 hectares of pastured land on one of the sections of the solar park in Arpheuilles and ensures the preservation of agricultural activity on site (sheep farming). The energy produced through the solar panels, chosen for their low carbon footprint, will be exported into the French electricity grid.

This new contract contributes to strengthening the competitiveness of independent producer JPee in the renewable energy market in France. The PPA framework facilitating project financing allows for new facilities and investments. This is the fourth long-term electricity supply contract concluded by the producer since 2023.
This initiative demonstrates Societe Generale's commitment to the energy transition and is in line with the Group's trajectory of decarbonisation. In 2019, Societe Generale was the first bank in France and one of the first companies to sign a 3-year wind energy supply contract with EDF.

*A PPA is a contract allowing a consumer to supply part of their energy needs by purchasing green electricity from a renewable electricity producer (wind, solar, hydro) with visibility on the price for the entire contractual term. The objective of this solution is to promote the development of renewable energies by allowing producers to guarantee their income over several years and the customer to know the origin of their energy supply.

Press contacts:
Societe Generale
Fanny Rouby +33 1 57 29 11 12 -
Sarah Cohen Lippe +33 1 58 98 51 91 -

Isabelle Latour-Gervais +33 6 62 63 95 33 -
Emilie Davy +33 6 81 00 13 61 –