Statkraft Supplies Solar Power For Schaeffler Sites

Statkraft, Europe's largest producer of renewable power, supplies Schaeffler AG with 11 per cent of the annual power demand for its German production sites. The supply of power from newly built solar plants in Germany supports the automotive supplier in achieving its sustainability targets.

Starting in 2023, Statkraft will supply the globally operating automotive and industrial supplier Schaeffler 11 percent of its total power demand from two German solar parks over a period of ten years.

"We are very pleased to support Schaeffler AG's sustainability goals through this green power purchase agreement," says Dr Carsten Poppinga, Senior Vice President Trading & Origination at Statkraft. "Supplying industrial companies with customised, high-quality green power solutions is our core business. In addition, green power contracts are a real hedging alternative to conventional power supply contracts in times of high and highly volatile power prices."

The power supplied roughly corresponds to the annual demand of the plant at Schaeffler AG's headquarters in Herzogenaurach, Franconia, Germany. The company is thus taking a further step towards making its production completely climate-neutral by 2030.

Andreas Schick, Chief Operating Officer at Schaeffler AG, says: “The supply agreement with Statkraft is a milestone for Schaeffler. It proves that we take sustainability seriously and, true to the motto “Green Makes the Difference”, are actively committed to achieving a better and more sustainable future. Statkraft is a pioneer in the field of renewable energies and will prove a dependable partner to us in reducing greenhouse gas emissions across our network of plants. The power purchase agreement illustrates our holistic approach in the area of sustainability and also secures the future green energy requirements for our German plants at calculable prices.”