World Kinect Energy Services congratulates Fujifilm on execution of a major Solar VPPA transaction with National Grid Renewables in North America.
World Kinect Energy Services successfully supported the end-to-end execution process of a Virtual PPA (Power Purchase Agreement)1 for the Fujifilm Group, the multinational conglomerate based in Tokyo, Japan.
As announced on Wednesday, November 15, 2023, World Kinect facilitated a VPPA between Fujifilm corporate headquarters in Tokyo, Japan and Bloomington, Minnesota-based National Grid Renewables (NGR). The contract supports the development of NGR’s Blevins Solar Project, a 2,400-acre solar and battery storage project currently under development in Falls County, Texas. In the agreement, Fujifilm has agreed to purchase approximately 47% of the project’s offtake, equating to 300,000 MWh of renewable energy attributes annually. This would be equivalent to the electricity needed to power approximately 42,000 U.S. homes each year.
“Fujifilm strives to be a company that contributes to solving society’s greatest challenges, including addressing climate change through our business strategy and operations,” said Teiichi Goto, president and chief executive officer, representative director of FUJIFILM Holdings Corporation. “This Power Purchase Agreement is aligned with our policy, which emphasizes securing a stable supply of renewable electricity with additionality2. We will continue to reduce CO2 emissions in our supply chain and contribute to the realization of a decarbonized society.”
Fujifilm engaged World Kinect to identify renewable energy projects that would accelerate the company’s desire to cover 100% of its total electricity consumption in the United States and Canada with green energy.
Fujifilm’s exclusive arrangement with World Kinect as an end-to-end sustainability advisor supports the company’s goal to achieve net zero CO2 emissions by the Fiscal Year ending March 2041, while helping to maintain stakeholder alignment, minimize market price exposure, and provide VPPA support from start to finish.
“We are honored to support Fujifilm in advancing their sustainability goals through this strategic partnership,” said Michael Kasbar, Chief Executive Officer, World Kinect Corporation. “This project is another opportunity for our global renewable energy solutions team to demonstrate its expertise and extensive resources in providing greater access to sustainably sourced energy.”
World Kinect Energy Services is a global energy management company with 35 years of experience that provides supply fulfillment, portfolio management, energy procurement advisory services, and decarbonization solutions to more than 150,000 commercial and industrial customers, including international brands and local businesses in more than 200 countries and territories worldwide. This transaction is the culmination of several years of trusted advisory delivered by WKES to our client Fuji across global teams on both sides. It is an indication of the trust and partnership any client can expect when engaging WKES to help accomplish their sustainability goals.
Read the full release: https://www.fujifilm.com/us/en/news/BlevinsVPPA