- Statkraft Markets GmbH has secured global automotive and industrial supplier Schaeffler as its solar power offtaker in Germany
- Schaeffler has entered a 10-year PPA to source solar power from 2 solar plants in the country from 2023 onward
- Volume supplied will correspond to Schaeffler’s 11% total electricity requirements in Germany
As energy prices hit the roof and Europe braces itself for a tough winter ahead, yet another corporate entity is looking to solar energy to power its operations with global automotive and industrial supplier Schaeffler Technologies signing up to source solar power from Statkraft Markets GmbH.
Electricity will be supplied by the German presence of the Norwegian energy utility under a 10-year power purchase agreement (PPA). It will come into effect from 2023 onward.
Statkraft will supply this solar power from 2 of its projects in Germany. Power supplied will be roughly equal to the annual demand of the plant at Schaeffler AG’s headquarters in Herzogenaurach, Franconia, Germany. Schaeffler said the volume supplied will correspond to 11% of its total electricity requirements in Germany.
“Supplying industrial companies with customized, high-quality green power solutions is our core business,” said Statkraft’s Senior Vice President Trading & Origination, Dr Carlsen Poppinga. “In addition, green power contracts are a real hedging alternative to conventional power supply contracts in times of high and highly volatile power prices.”
The German manufacturer aims to use renewable energies to cut down its production emissions by three quarters by 2025, in a bid to achieve climate-neutral internal production operations (Scope 1 and 2) from 2030 and this PPA is a further step in this direction.
It shared that since 2020 all German production locations of the company, and since 2021 all its production locations within the European Union (EU), have been sourcing 100% of their electricity from renewable energy sources. By 2024, it targets all of its global locations to use renewable energy for 100% of their electricity needs.
