Power Purchase Agreement – A Sustainable Milestone for LTP Group
Go backIn a strategic move towards a stronger sustainability focus, LTP Group inked a Power Purchase Agreement with Green Genius, securing a future remarkable 56% coverage of LTP Furniture’s electricity consumption.
2024 is off to a good start, with this recent momentous occasion that has unfolded for LTP Group and 18 other companies with the commissioning of a new 20,000 m2 solar park near Radviliškis, equivalent to the size of three football fields.
In a strategic move towards sustainability, LTP Group inked a Power Purchase Agreement with Green Genius, the visionary force behind the solar park. This eco-friendly initiative is set to annually contribute 10,000MWh of renewable energy to the electricity grid. Looking ahead, LTP Furniture in Kedainiai will utilize 10% of this energy, amounting to 1,000 MWh per year. This translates to a remarkable 56% coverage of the furniture division's electricity consumption in Lithuania with clean, renewable energy.
While LTP Furniture in Kedainiai currently benefits from renewable energy through guarantees of origin and its rooftop solar panels generating around 90 MWh annually, the latest solar park is a significant leap towards the company's ambitious goal. The rooftop solar panels alone presently account for approximately 5% of the electricity consumed by the furniture division in Lithuania.
LTP Group is committed to pursuing solutions that willenable the complete transition of its global electricity consumption torenewable sources. This endeavor commences with a focus on European production sites.
About Green Genius:
Green Genius is a leading renewable energy company with a strong focus on developing solar, biogas, wind, storage, biomethane, and green hydrogen energy projects across eight European countries. The company currently holds a substantial pipeline of over 2 GW of utility-scale biogas, wind and solar PV assets in various stages of development and construction. These assets will make a significant contribution towards mitigating the effects of climate change in Europe. Green Genius's implemented projects generate about 320 GWh of green energy each year, reducing over 212,000 tones of CO2 emissions.
