Your location:  Home  >  Bearing News  >  World Bearing News
<<  Back

SKF signs Virtual Power Purchase Agreement (VPPA) to support renewable energy in Europe

Resource from: Likes:270
Jun 25,2023


SKF has signed a Virtual Power Purchase Agreement (VPPA) in the next step towards its target of 100% renewable electricity by 2030. Under the long-term agreement with the global energy company Enel, SKF will purchase guarantees of origin for a period of 15 years, equivalent to the electricity used by one third of its European operation in 2022, from Enel’s upcoming solar project in Spain.

The solar plant is expected to add more than 260 GWh/year of renewable electricity and be connected to the power grid by August 2024. By signing the VPPA, SKF is able to support the development of additional renewable energy in Europe and contribute to the reduction of greenhouse gas emissions.

Joakim Landholm, Chief Sustainability Officer and Senior Vice President, says: “This agreement is a critical step forward in our strategy. It also demonstrates our commitment to the cleantech industry and support for the growth of the renewable energy industry. This shows that, by working together with others, we can make a real impact in achieving a sustainable future.”

The VPPA is part of SKF’s broader sustainability agenda, which includes initiatives to reduce energy consumption, increase use of renewable energy, and minimize environmental impact. The agreement is also another step forward in SKF’s membership of RE100, as part of a membership commitment to shifting to 100% renewable electricity by 2030.

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.


Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.