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Pioneer Point Partner’s portfolio company, PerPetum Europe (“PerPetum”) is partnering with INEOS Inovyn to install a 60MW solar PV plant to support commercial and industrial decarbonisation. The 90,000-panel plant will supply power exclusively to the Jemeppe PVC production site, which employs over 540 people.

The project is expected to reduce INEOS’s emissions by 14,000 tonnes of CO2 annually, as part of the company’s strategic decarbonisation roadmap to reduce CO2 emission across sites by more than 30% by 2030 and Net Zero by 2050 in order to provide customers with low carbon products that support the transition to a Net Zero economy.

PerPetum is responsible for the project build, commissioning and maintenance on behalf of Green4Power, the investment vehicle which finances and owns the solar farm. Under a power purchase agreement INEOS Inovyn will acquire all green electricity produced from Jemeppe-sur-Sambre over the next 15 years.

Philippe Taranti, INEOS Inovyn Director at the Jemeppe site said, ‘I am proud of the industry leadership we are showing. INEOS products play a vital role across modern life and this new solar farm gives us competitive access to local renewable energy.’

Luc Leenknegt, CEO and founder of PerPetum said, ‘We are proud to contribute to INEOS Inovyn’s environmental objectives. This project is totally in line with PerPetum Energy’s mission: to help industrial companies and large consumers to reduce the carbon footprint of their consumption as much as possible, by offering them an optimised mix of multi-technology solutions such as photovoltaics, wind power and energy storage.’

Construction is progressing and is the site is expected to be operational by July 2024.