- H&M will receive 95% of the electricity generated by Hultsfred Solar Farm, a 100 MW facility capable of powering 18,000 households annually.
- The PPA supports H&M’s goal to fully power operations with renewable energy by 2030 and advances Sweden’s renewable energy transition.
H&M is now sourcing the bulk of renewable electricity from Hultsfred Solar Farm, Sweden’s largest utility-scale solar installation, which produces around 100 gigawatt-hours annually.
The retailer secured 95% of the solar farm’s output through a 2022 power purchase agreement with French renewable energy company Neoen and Swedish developer Alight, who co-built and commissioned the 130-hectare facility. H&M also receives associated guarantees of origin, ensuring a traceable renewable energy supply.
Hultsfred Solar Farm features 174,000 low-carbon panels and has an installed capacity of 100 megawatts peak (MWp), enough to supply electricity for roughly 18,000 households each year. The project reached commercial operation last week.
“This solar farm demonstrates that Sweden can deliver large-scale, unsubsidised renewable energy quickly,” said Alight CEO Warren Campbell. “Partnering with Neoen and H&M highlights the potential for corporate collaboration to drive the energy transition.”
H&M views the initiative as a step toward its corporate sustainability targets. The company aims to power all operations with renewable electricity by 2030 and generate at least half of that energy through PPAs. Marcus Hartmann, H&M Northern Europe Head of Sustainability, said the solar farm expands Sweden’s renewable capacity while helping H&M move closer to net-zero operations and a circular business model.
Danske Bank provided structured debt financing, while an EPC consortium led by Equans Energy and Storage and Solkompaniet completed construction.