SKF Sails into Enel's Spanish Solar Site

• SKF, a leading Swedish bearing manufacturer, has partnered with Enel to agree a 15-year virtual power purchase agreement (VPPA) from a solar project in Spain. Offering 260GWh/year of renewable electricity, the VPPA will help reduce greenhouse gas emissions and support renewable energy growth.

Enel has won a 15-year virtual power purchase agreement (VPPA) from SKF, a leading Swedish bearing manufacturer, for a solar project in Spain. The solar plant, expected to come online by August 2024, will generate 260GWh/year of renewable electricity and contribute to the reduction of greenhouse gas emissions. SKF will purchase guarantees of origin for electricity equivalent to one-third of its European operations in 2022. Joakim Landholm, SKF Chief Sustainability Officer and Senior Vice President, said the agreement is a critical step in their strategy and shows their commitment to the cleantech industry and support for the growth of renewable energy. By working together, they can make a real impact in achieving a sustainable future.

What Impact Will SKF's VPPA Have on Renewable Energy?

• SKF’s VPPA will help reduce emissions through purchasing one-third of the electricity for their European operations from renewable sources.
• This VPPA will also provide a platform for Enel to expand its renewable energy portfolio and provide additional clean energy to the region.
• The VPPA will create more jobs and stimulate economic growth in the area as Enel invests in the development of the solar plant.
• SKF’s VPPA will serve as an example for other companies to follow as the cleantech industry continues to grow.
• The VPPA will also help raise awareness of the importance of renewable energy and the potential impact it can have on reducing greenhouse gas emissions.