Coloplast enters into Power Purchase Agreement with Better Energy

The Power Purchase Agreement (PPA) will contribute directly to the construction of a new large solar park and cover 100% of Coloplast’s electricity consumption in Denmark from 2023 onwards.

Coloplast has signed a Power Purchase Agreement with Better Energy, equivalent to 9 GWh of new green electricity per year over a ten-year period. The agreement ensures the construction of a new solar park of more than 50 hectares and marks an important step in Coloplast’s sustainability agenda. The solar park is expected to be fully operational during 2023.

The agreement positively contributes towards two of Coloplast’s sustainability targets:

• Ensuring 100% renewable energy consumption by 2025 while supporting climate action and the expansion of additional renewable energy in society
• Reducing emissions by 100% in own operations (scope 1 & 2), which includes production, distribution, office buildings and company car fleet by 2030

“As part of our 2025 strategy, Strive25, we have made it a clear priority to run our company in a more sustainable way. This new agreement will support our ambition by delivering green power to Coloplast’s Danish sites, ensuring renewable energy for 100% of Coloplast’s electricity consumption in Denmark from 2023/24 onwards,” says Coloplast’s President & CEO, Kristian Villumsen.

An urgent need for climate action
An important prerequisite for the green energy transition is the availability of renewable, subsidy-free electricity. Through PPAs based on additionality, companies can reduce CO2 emissions and at the same time have a noticeable effect on the share of green power in the electricity grid. Better Energy welcomes Coloplast to its growing group of industry leaders and partners that have chosen to have a direct impact on the transition:

“We are in the middle of three crises in Europe: a climate crisis, a nature and biodiversity crisis and a combined energy and security crisis. On all accounts, the time for talk is over, and what is needed now are concrete actions. We are still able to affect the world and the type of future that we will live in, but it starts with our choices today. Coloplast is walking the talk with this new PPA,” says Rasmus Lildholdt Kjær, CEO of Better Energy.

For Coloplast, the agreement represents exactly that: an important step and concrete climate action, as highlighted by Nassera Ahmed, Senior Director of Sustainability at Coloplast:

“This ten-year agreement is a milestone in Coloplast’s sustainability journey. We are moving forward with our efforts to replace renewable energy certificates with PPAs and support the expansion of renewable energy in society.”

Better Energy owns and is responsible for the construction, operation, and maintenance of the coming solar park.

CONTACTS

Peter Mønster Sr. Media Relations Manager +45 4911 2623 [email protected]

Christian Bergmann Mølgaard VP, Head of Communications +45 2671 3634 [email protected]