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RWE and Bosch sign long-term solar power purchase agreement
16-year 50-megawatt power purchase agreement
Green electricity goes directly to German Bosch sites
PPA model ensures construction of new solar farms in southern Germany
RWE Supply & Trading will provide Bosch with solar power. The total volume amounts to 50 megawatts. The company will source the power from several new farms in southern Germany developed by RWE and other providers. These solar farms can be built thanks to the power purchase agreements and thus do not rely on subsidies under the German Renewable Energy Act.
The first delivery will begin shortly, with all of the solar farms slated for commissioning over the course of 2021. RWE Supply & Trading will organise and pool procurement, take charge of structuring, and, in its role as accounting group overseer, integrate all of the green electricity deliveries within the Bosch procurement portfolio. In so doing, RWE will ensure that the power put on the system equals the amount of electricity drawn from the grid simultaneously at all times.
Bosch seeks to be fully carbon neutral by the end of 2020. Its German sites already achieved this goal at the end of 2019. The company intends to significantly increase its renewable energy consumption by 2030. The long-term PV supply agreement with RWE pays into hitting this target and Bosch's strategy.
"By signing this agreement, we are taking the next step towards implementing Bosch's ambitious climate protection programme," emphasises Andree Stracke, Chief Commercial Officer Origination & Gas Supply at RWE Supply & Trading. "With its global portfolio, RWE ranks among the largest producers of electricity from renewables. We provide tailor-made solutions to industry and municipal utilities, with a view to helping these customers achieve their environmental goals."
Long-term power purchase agreements are increasingly becoming an option for operators of both legacy and new renewable energy plants. PPA models have the advantage of not requiring participation in invitations to tender for subsidy tariffs. This increases site flexibility and accelerates project rollout. RWE Supply & Trading already supplies green energy to key accounts directly via PPAs. For instance, Deutsche Bahn Strom, the German Railway's electricity arm, procures electricity from parts of the Nordsee Ost offshore wind farm. Another example is the Belgian Northwester 2 wind farm, the entire generation of which has been marketed by RWE Supply & Trading since the spring of 2020.
About the Bosch Group
The Bosch Group is a leading international technology and service company with approximately 400,000 associates worldwide (as of 31 December 2019). It generated sales totalling 77.7 billion euros in fiscal 2019. Its activities are divided into four business segments: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading provider in the Internet of Things (IoT), Bosch offers innovative solutions for Smart Home, Industry 4.0 and Connected Mobility. Bosch has a vision of sustainable, safe and inspiring mobility. With its expertise in sensors, software and services, as well as its own IoT cloud, the company is able to offer its customers networked and cross-domain solutions from a single source. The strategic goal of the Bosch Group is to provide solutions and products for connected living that have built-in artificial intelligence (AI) or are engineered or produced using AI. With innovative and inspiring products and services, Bosch improves the quality of people’s lives around the world. Bosch offers “technology for life”. The Bosch Group comprises Robert Bosch GmbH and its approximately 440 subsidiaries and regional companies in 60 countries. Including trade and service partners, Bosch’s worldwide manufacturing, development and sales network covers almost every country around the globe. The company’s innovative strength is the basis for its future growth. Bosch employs around 72,600 associates worldwide in research and development at 126 locations and some 30,000 software engineers.
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