The 10-year VPPA agreement will cover 65 percent of GKN Automotive’s European electricity load and 30 percent of its global load, significantly contributing to the company’s commitment to using 50 percent renewable electricity globally by 2025 and 75 percent by 2030.
The joint agreement with Recurrent Energy will establish The Rey I project, a new2 large-scale solar farm in Spain, which will contribute towards the increased supply of renewable electricity to the Spanish grid – simultaneously contributing to the decarbonisation of the European grid.
The project will facilitate the supply of approximately 200,000 MWh of renewable electricity to the European grid annually, reaching approximately 2 million MWh over the 10-year agreement. GKN Automotive will receive Energy Attribute Certificates (EACs) equivalent to 65 percent of its European 2023 electricity usage.
This development is a key step in the company’s SBTi-approved targets to reduce its direct Greenhouse Gas (GHG) emissions (Scope 1 and 2) by 45 percent by 2030 and achieve net zero across its entire value chain by 2045.
GKN Automotive is actively pursuing further VPPAs across Europe and South America, with the aim of further decarbonising its electricity usage across its global operations.
“Signing this VPPA with Recurrent Energy underscores our commitment to achieving our 2045 net zero ambition and contributing 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 drive a cleaner, more sustainable world, through supporting projects that add to the supply of renewable electricity.”
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