Philips already has an interstate virtual PPA agreement to meet its renewable energy targets in the U.S., and as part of a consortium comprising Philips, Nouryon, DSM and Google, it has two long-term Power Purchase Agreements (PPAs) to purchase the output of the Bouwdokken and Krammer wind farms in the southwest of the Netherlands.
Together with today’s announcement, these agreements form part of Philips’ ESG strategy to be a purpose-driven company with an enhanced and fully integrated approach to doing business responsibly and sustainably. Its ESG pledges, which are in line with the Paris Agreement 1.5⁰C scenario, include a commitment to source 75% of the company’s total energy consumption from renewable sources by 2025.