Vitesco Technologies and Statkraft Ink Major Deal for 83,000 MWh of Green Electricity

Vitesco Technologies, a prominent global provider of e-mobility solutions, has recently entered into a significant Power Purchase Agreement (PPA) with Statkraft, the leading producer of renewable energy in Europe. This strategic partnership, initiated in January and set to continue for approximately three years, is geared towards supplying Vitesco Technologies with about 83,000 MWh of green electricity, sourced from solar and wind energy. Through this agreement, Vitesco Technologies is securing around 10,500 MWh from solar power and approximately 17,300 MWh from wind power annually, which will predominantly cater to the energy needs of its operations across Germany.

This move is part of Vitesco Technologies’ broader commitment to environmental sustainability, having sourced all its grid electricity from renewable resources since 2020. This initiative aligns with the company’s ambitious objective to achieve zero Scope 2 emissions. Moreover, the deal with Statkraft is pivotal in ensuring the long-term procurement of renewable energy, reinforcing Vitesco Technologies’ roadmap towards achieving net climate neutrality by 2030 and net-zero greenhouse gas emissions throughout its entire value chain by 2040.

Anja Rivera de la Cruz, the head of Sustainability & Security at Vitesco Technologies, highlighted the agreement as a crucial step towards the company’s sustainability goals. She emphasized its significance in not only securing a climate-neutral electricity supply but also in advancing the expansion of renewable energy through regionalization.

The renewable energy for Vitesco Technologies will be generated at the Ihlenfeld Solar Park in Neuenkirchen, Mecklenburg, and the Ütze-Süd Wind Farm in Lower Saxony. These facilities are instrumental in the long-term financing and economic operation made viable through the PPA, according to Patrick Koch, Head of Statkraft’s origination business in Germany, who also noted the flexible adaptation of PPAs to meet the diverse energy demands of industrial customers.