AXA has announced the signature of a ten-year Virtual Power Purchase Agreement (VPPA) with IGNIS, a Spanish group specializing in renewable energies.

The contract signed by AXA concerns a solar power plant in Spain, in the Andalusia region, where construction will begin shortly, with the aim of being operational in May 2025.

Under the terms of the agreement, AXA will purchase 90% of the renewable electricity produced by the plant, i.e. 84 GWh per year.

The environmental impact of this contract will be significant, since 75% of the electricity consumed by the Group's buildings and data centers is located in Europe. By signing a VPPA of this scale, AXA is confirming its climate ambitions by decarbonizing, among other things, its activities in these areas', said Alexander Vollert, Group Chief Operating Officer and CEO of AXA Group Operations.

' Thanks to this new initiative, AXA will exceed its target of reducing CO2 emissions from its activities by 20% by 2025, ' said Ulrike Decoene, Head of Communications, Brand and Sustainable Development at AXA.

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