Norwegian state-owned power company Statkraft AS has inked a power purchase agreement (PPA) with Vitesco Technologies, a German manufacturer of sustainable drive systems, to supply approximately 83,000 MWh of renewable electricity.
The three-year agreement, effective from January 2024, will see Statkraft provide Vitesco Technologies with around 10,500 MWh of solar power and roughly 17,300 MWh of wind power annually. The complementary generation profiles of solar and wind energy will enable Vitesco Technologies to meet a significant portion of its power needs at its German sites.
The solar power will be sourced from the Ihlenfeld solar park in Neuenkirchen, Mecklenburg, while the wind power will come from the Uetze-Sued wind farm in Lower Saxony.
Vitesco Technologies has been sourcing all of its electricity from renewables since 2020 and aims to achieve net climate neutrality for its operations by 2030, along with net-zero greenhouse gas emissions across its value chain by 2040.
“The agreement with Statkraft is an important milestone for us on this path. It not only allows us to secure a climate-neutral electricity supply, but also to promote its further expansion through stronger location-based regionalization of the purchased grid electricity from renewable sources,” said Anja Rivera de la Cruz, Head of Sustainability and Security at Vitesco Technologies.
