KEY POINTS
- Fujifilm Holdings covers all U.S. and Canadian group sites with renewable energy through a virtual PPA with Geronimo Power, activated in April 2026
- Blevins, Texas solar facility delivers ~300,000 MWh/year to Fujifilm, cutting CO2 by roughly 90,000 tonnes — about 10% of group-wide fiscal 2024 emissions
- Deal advances Fujifilm's fiscal 2040 net-zero Scope 1 and 2 target and fiscal 2030 goal of 50% lifecycle CO2 reduction from fiscal 2019 levels
Fujifilm Holdings Corporation has completed the transition of all electricity consumption across its North American operations to renewable energy, the Tokyo-based company announced on April 21, activating a virtual power purchase agreement with U.S. energy developer Geronimo Power that underpins a critical pillar of its long-term decarbonization strategy. The arrangement effectively converts all electricity used at its group sites in the United States and Canada to renewable energy on a market basis, the company said.
The agreement, originally signed in 2023, was triggered by the commercial launch of a solar generation facility in Blevins, Texas. The plant carries a total installed capacity of 270 megawatts, of which Fujifilm's contracted share amounts to 125 MW. FUJIFILM Holdings America Corporation, the entity responsible for power procurement across U.S. and Canadian group sites, will purchase renewable energy certificates equivalent to approximately 300,000 MWh per year — roughly 46% of the total output from the Blevins facility — from Blevins Solar, LLC, a special-purpose vehicle established by Geronimo Power, the company said.
The annual CO2 reduction attributable to the arrangement is estimated at approximately 90,000 tonnes, calculated using regional grid emission factors published by the U.S. Environmental Protection Agency on a market-basis methodology, the company said. That figure represents about 10% of Fujifilm Group's total CO2 emissions in fiscal year 2024.
Under a virtual PPA structure — in which the buyer acquires only the environmental attributes of renewable electricity rather than the physical power itself — Fujifilm does not receive electricity directly from the Blevins plant. Instead, certificates documenting the zero-carbon value of that generation are transferred to the company, allowing it to claim renewable sourcing for an equivalent volume of grid power consumed at its North American sites. The structure is widely used by many multinational corporations seeking long-term, large-scale renewable procurement without the logistical constraints of direct-wire or off-site physical supply arrangements.
Fujifilm frames the corporate PPA model as a vehicle for additionality — the principle that a buyer's procurement choice actively stimulates new clean energy investment rather than merely reallocating existing renewable capacity. The company positioned this deal alongside on-site generation installations as one of its primary tools for securing long-term, additional renewable supply.
The announcement forms part of Fujifilm's "Sustainable Value Plan 2030," under which the company aims to achieve net zero CO2 emissions from energy used in its own operations on a Scope 1 and 2 basis by fiscal 2040 and to cut CO2 emissions across the full lifecycle of its products by 50% by fiscal 2030 from fiscal 2019 levels.
Originally published on ibtimes.co.jp
