SKF signs PPA with Enel for sourcing energy from solar project in Spain

By Editor


SKF has signed a Virtual Power Purchase Agreement (VPPA) 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.

SKF aims to use 100 percent renewable electricity by 2030 and contribute to the reduction of greenhouse gas emissions.

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.

SKF’s climate targets are approved by the Science Based Targets initiative (SBTi). In its targets, SKF has committed to reducing its absolute scope 1 and 2 GHG emissions by 95 percent by 2030 from a 2019 base year and to reduce its scope 3 emissions by at least 31 percent by 2030. SKF has also committed to reach net-zero GHG emissions across the value chain by 2050.

Latest News