Volvo Signs Renewable Electricity Supply Deal With Vattenfall
By Dominic Chopping
STOCKHOLM--Swedish truck maker Volvo said Tuesday that it has signed a long-term renewable electricity supply agreement with utility group Vattenfall.
The deal sees Volvo commit to buying 50% of the renewable electricity produced at Bruzaholm wind park in Sweden--equal to around 230 gigawatt hours a year--over a 10-year period from the last quarter of 2025.
Construction of the 21 turbine 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 with Vattenfall is a step forward in the group's commitment to reach a net-zero greenhouse gas emissions value chain by 2040 and achieve the aims of the Paris climate agreement," Volvo said.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
May 23, 2023 02:36 ET (06:36 GMT)
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