Engineering firm enters agreement to reduce carbon footprint
Birmingham-based GKN Automotive has taken a step towards reducing its carbon footprint by entering a 10-year Virtual Power Purchase Agreement (VPPA).
The agreement is with Recurrent Energy, a subsidiary of Canadian Solar and a major renewable energy developer.
Under this agreement, GKN Automotive will fulfil 65% of its electricity needs in Europe and 30% globally from renewable sources.
The partnership with Recurrent Energy will support the establishment of The Rey I project, a large-scale solar farm in Spain.
It aims to increase the supply of renewable electricity to the Spanish grid, contributing to the overall decarbonisation of the European energy sector.
The solar farm is expected to generate approximately 200,000 MWh of renewable electricity annually, totalling about 2 million MWh over the agreement’s duration.
GKN Automotive will also receive Energy Attribute Certificates (EACs) equivalent to 65% of its European electricity consumption in 2023.
Dr. Clare Wyatt, chief people of communications & sustainability officer at GKN Automotive, said: “Signing this VPPA with Recurrent Energy underscores our commitment to achieving our 2045 net-zero ambition and contributing to the decarbonisation of the industry. It reflects our intention to continue to drive a cleaner, more sustainable world, through supporting projects that add to the supply of renewable electricity.”
Ismael Guerrero, CEO of Recurrent Energy, said: “Recurrent Energy is pleased to support GKN Automotive’s commitment to reach net-zero carbon emissions by 2045. Recurrent Energy has a long track record of executing projects at scale for major worldwide customers, and we thank GKN Automotive for trusting us with their first VPPA in Europe. This virtual power purchase agreement exemplifies the dedication of both companies to invest in renewable energy projects that not only benefit operations but also contribute to the broader goal of combatting climate change.”
