SKF inks a virtual PPA for Enel solar project in Spain

Swedish bearing manufacturer SKF has inked a virtual PPA for an Enel solar project in Spain.

According to the company, the plant will add over 260GWh/year of renewable electricity. The generated power will be connected to the power grid by 2024.

With the signing of the agreement, “SKF is able to support the development of additional renewable energy in Europe and contribute to the reduction of greenhouse gas emissions,” it stated.

Under the long-term agreement, “SKF will purchase guarantees of origin for a period of 15 years.”

A local report mentioned, “it is equivalent to the electricity used by one third of its European operation in 2022, from Enel's upcoming solar project in Spain.”

According to SKF chief sustainability officer and senior vice president Joakim Landholm, "This agreement is a critical step forward in our strategy. It also demonstrates our commitment to the cleantech industry and support for the growth of the renewable energy industry.”

The company shared that with cooperation, it can lead to a real impact in achieving a sustainable future.