Volvo Group has signed an agreement with Vattenfall, the largest producer of renewable electricity in Sweden.
Volvo will be buying 50 percent (~230GWh/year) of the renewable electricity produced at Bruzaholm wind park in Sweden, over a 10-year period starting in the last quarter of 2025.
This partnership with Vattenfall is a step forward in the Group’s commitment to reach a net-zero greenhouse gas emissions (GHG) value chain by 2040 and achieve the aims of the Paris Climate Agreement.
The Bruzaholm wind park will have 21 wind turbines. Construction of the Bruzaholm wind park is scheduled to start in summer 2023 and to be ready for commission by the autumn of 2025 when the agreement begins.
“This partnership marks an additional step in reducing the environmental impact from our industrial activities. The agreement signals our commitment to prioritize low-carbon investments, source renewable energy, and take climate action,” says Martin Lundstedt, President and CEO of Volvo Group.
“The agreement is an example of how Volvo Group has chosen to be at the forefront of its electrification and climate work,” says Vattenfall’s CEO and President Anna Borg.