Bosch Announces Two More PPAs for Renewable Energy
Earlier this week, ESG Today reported that engineering and technology multinational company Bosch had signed a power purchase agreement (PPA) with electric power producer Vattenfall. Bosch has announced two more PPAs this week, with power providers RWE and Statkraft.
In total, the three PPAs will provide Bosch with annual volume of more than 100,000 megawatt hours – equivalent to the annual electricity consumption of up to 30,000 private households or 70 percent of the electricity consumption at the Bosch site in Feuerbach, Germany. According to Bosch, under optimum photovoltaic conditions, the maximum output will be sufficient to cover the entire electricity requirements of the company’s plants in Feuerbach, Homburg, and Bamberg simultaneously.
Volkmar Denner, the CEO of the Bosch Group, said:
“Climate change isn’t taking a break, so neither are we. By the end of the year, we will achieve our ambitious goal of no longer leaving a carbon footprint.”
The PPA agreements are anticipated to help Bosch achieve its stated sustainability goals, which include becoming climate neutral at the end of 2020, and gradually improving the quality of its CO₂ neutral position by further investing in the supply of renewable energies and in energy efficiency measures through 2030. Bosch pointed to several other ongoing projects that will enable the company to reach its sustainability goals, including a 105,000 MW wind power PPA with Enel in Mexico, generation of 60,000 MW of renewable energy from its own in-house photovoltaic systems, as well as initiatives to expand the company’s use of hydropower, biomass and hydrogen.
“Our efforts for the energy transition will continue after 2020. Investing in renewables is an important testament to this.”