French banking group Societe Generale has embarked on a pioneering initiative to support renewable energy development at home by entering into a 20-year power purchase agreement (PPA) with France-based developer JP Energie Environnement (JPee).
In an announcement made on Monday, Societe Generale revealed the signing of the offtake deal, signaling its commitment to procure electricity from a forthcoming photovoltaic (PV) farm located in the municipality of Arpheuilles in the Centre-Val de Loire region of central France.
Once operational in 2026, the solar park will supply electricity directly to Societe Generale, catering to between 10% and 15% of the annual consumption of its central services and network in France, amounting to approximately 16.7 gigawatt-hours (GWh) per year.
Spanning 14.2 hectares of pastured land, the solar PV park will serve as a dual-purpose facility, integrating both power generation and sheep farming activities. Connected to the French electricity grid, the site represents a synergy between renewable energy production and sustainable agriculture.
