Amid growing demand for clean energy, Volvo Group has signed a long-term contract with Vattenfall, Sweden’s largest producer of renewable energy. Vattenfall and Volvo Group will work together. In the agreement, Volvo Group pledges to purchase 50% (~230 GWh/year) of the renewable electricity produced at the Bruzaholm wind farm in Sweden over a period of 10 years, from the last quarter of 2025.
This collaboration and Vattenfall It is a step forward in the group’s mission to have a value chain with zero greenhouse gas emissions by 2040 and achieve the goals of the Paris Climate Agreement. Construction of the Bruzaholm Wind Farm, consisting of 21 wind turbines and related equipment, is scheduled to begin in the summer of 2023 and be ready for commissioning in the summer of 2025 when the agreement comes into force.
The Volvo Group is on a growth path providing customers with sustainable transport and infrastructure solutions and electric and biofuel products as key catalysts for reducing greenhouse gas emissions. At the same time, the Volvo Group is working step by step, together with its partners, to reduce the amount of greenhouse gases in its operations and the entire value chain. Part of this includes replacing residual energy sources in its operations and placing renewable energy sources using less greenhouse gas, such as wind, solar and hydropower, and facilitating the transition of society towards renewable electricity. Using a variety of renewable sources, this agreement increases the potential for Volvo Group’s continued transition to zero emissions.
“This partnership is another step in continuing to reduce the environmental impact of our industrial activities. The agreement shows our commitment to focus on low carbon investments, use renewable energy sources and take climate action in everything we do,” he said. Martin Lundstedt, President and CEO of Volvo Group.