Statkraft, Europe’s largest producer of renewable energy, has concluded a Power Purchase Agreement (PPA) with Vitesco Technologies, a leading international developer and manufacturer of modern drive technologies for sustainable mobility, for the supply of a total of around 83,000 MWh of renewable electricity from solar and onshore wind power plants.
Since January 2024, Statkraft has been supplying Vitesco Technologies with around 10,500 MWh of solar power and around 17,300 MWh of wind power annually for a period of three years: a total of around 83,000 MWh. With this combination of complementary solar and wind generation profiles, Vitesco Technologies can cover a significant proportion of the electricity requirements of its German sites.
“Vitesco Technologies has very ambitious sustainability targets. We support these as an energy supplier by combining wind and solar power in line with demand. We adapt both the terms and volume of PPAs to the requirements of our industrial customers and can therefore flexibly supply companies of different sizes with renewable electricity,” says Patrick Koch, Head of Statkraft’s origination business in Germany.
Vitesco Technologies has been sourcing its electricity exclusively from renewable sources since 2020. The goal of not causing any Scope 2 emissions through the company’s own electricity consumption has therefore been achieved.
“Our goal is to achieve net climate neutrality for our own operations by 2030 and net-zero greenhouse gas emissions along the entire 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,” explains Anja Rivera de la Cruz, head of Sustainability & Security at Vitesco Technologies.
The solar power for Vitesco Technologies will come from the Ihlenfeld solar park in Neuenkirchen, Mecklenburg, the PPA will contribute to its long-term financing. The wind power will be generated at the Ütze-Süd wind farm in Lower Saxony, the commercial operation of which is made possible by the PPA.
Statkraft – building bridges between power producers and consumers
Statkraft bridges the gap between the different needs of power producers and consumers by offering tailor-made power purchase and supply agreements and by assuming residual risks. PPAs enable the continued operation of plants whose EEG subsidies have expired as well as the operation and financing of new wind and solar plants without the plants having to take advantage of EEG subsidies. At the same time, industrial and commercial customers achieve their sustainability and climate targets and can hedge against fluctuating electricity prices in the long term.
Vitesco Technologies is a leading international developer and manufacturer of cutting-edge drive systems for sustainable mobility. With intelligent system solutions and components for electric, hybrid, and internal combustion drive systems, Vitesco Technologies is making mobility clean, efficient, and affordable. The product portfolio includes electric drives, electronic controls, sensors and actuators, and exhaust gas treatment solutions. In 2023, Vitesco Technologies generated sales of around €9.23 billion and employs a workforce of around 35.500 employees at 50 locations. Vitesco Technologies is headquartered in Regensburg, Germany.
