GKN Automotive signs virtual power purchase agreement with Recurrent Energy, covering 65 percent of Europe’s electricity needs

The ten-year VPPA will cover 65% of GKN Automotive’s electricity requirements in Europe and 30% of its global electricity requirements, significantly contributing to the company’s commitment to source 50% of its electricity from renewable sources by 2025 and 75% by 2030.

The joint agreement with Recurrent Energy will enable the development of the Rey I project, a new2 large-scale solar farm in Spain that will contribute to increasing the supply of renewable electricity to the Spanish grid while contributing to the decarbonisation of the European electricity grid.

The project will facilitate the delivery of around 200,000 MWh of renewable energy to the European electricity grid per year, reaching around 2 million MWh over the 10-year contract. GKN Automotive will receive Energy Attribute Certificates (EACs) equivalent to 65 percent of Europe’s electricity consumption in 2023.

This development is a key step towards achieving the company’s SBTi-approved targets to reduce direct greenhouse gas (GHG) emissions (Scope 1 and 2) by 45 percent by 2030 and achieve net zero emissions across the entire value chain by 2045.

GKN Automotive is actively pursuing further VPPAs in Europe and South America with the aim to further decarbonise electricity consumption across its global operations.

“The signing of this VPPA with Recurrent Energy underlines our commitment to achieving our net zero emissions target by 2045 and contributes to the decarbonisation of the industry,” said Dr Clare Wyatt, Chief People, Communications & Sustainability Officer at GKN Automotive. “It reflects our intention to continue to create a cleaner, more sustainable world by supporting projects that contribute to the supply of renewable energy.”

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GKN Motoring

Recursive energy