Kautex Signs Solar Power Purchase Agreement

·       The first renewable vPPA for Kautex and Textron

·       Secures long-term 34 MW capacity to drive sustainable energy commitment

·       Renewable energy PPA set to generate 90 GWh annually aligned with greenhouse gas emission reduction goals

Bonn, Germany - [11/12/2024]

Kautex Textron GmbH & Co. KG (Kautex), a Textron Inc. (NYSE: TXT) company, known as a pioneer in polymer processing and a leading global automotive Tier 1 supplier to OEMs has announced a significant milestone with the signing of a Virtual Renewable Energy Power Purchase Agreement (vPPA) with the Spanish company BRUC for the Cartago B Solar Project in Seville, Spain. This agreement is Kautex's first foray into vPPAs and represents a crucial step in achieving its sustainability goals, specifically in reducing Scope 2 emissions by 25% and indirectly covering most of its European electricity consumption. 

The Project subject to the vPPA encompasses a substantial 34.4 megawatt capacity, set to generate approximately 90 gigawatt hours annually for 15 years, commencing in September 2025. This deal secures a long-term, stable Guarantee of Origin supply for Kautex and demonstrates the company's commitment to reducing carbon emissions in alignment with its sustainability targets.

"Kautex has committed to reducing Scope 1 & 2 emissions by 80% and a 30% reduction in Scope 3 emissions by 2030, with the goal to achieve carbon neutrality in all Scopes by 2050," said Sophie Louis, Director of Energy and Sustainability at Kautex. "As a global manufacturer, it is crucial for us to monitor and reduce our carbon emissions. This agreement with BRUC represents a significant leap forward in our sustainability journey and helps support the energy transition in Europe."

Schneider Electric has worked closely with Kautex to help facilitate this landmark agreement, having worked closely with Kautex over the years, building a strong partnership and trust. From conventional sourcing support to more complex opportunities like this Renewable Energy vPPA, “Schneider Electric's expertise has been instrumental in advising Kautex through this significant milestone” said Javier Perez, Kautex CFO.

Through this collaboration, Schneider Electric has not only supported Kautex in achieving its immediate sustainability goals but has also contributed to the broader mission of addressing climate change and reducing the environmental impact of manufacturing operations in Europe.

“This agreement with Kautex, along with other PPAs signed this year and those planned in the coming years, supports our portfolio of over 9 GW, because PPA is a key element of our business model, providing long-term stability and reinforcing our commitment to sustainable energy growth”, says Luis Venero, BRUC’s CEO.  

This has already been a historic year for Kautex in terms of sustainability achievements by maintaining an A- rating from the Carbon Disclosure Project (CDP), joining the United Nations Global Compact, earning a Platinum rating from EcoVadis, and the Science Based Targets Initiative (SBTi) validating and approving their net-zero targets.

For more information on Kautex's sustainability commitments, visit Kautex's Sustainability Page.

At Kautex, we are driving the future. As a Tier One automotive supplier with more than 30 plants in 13 countries, Kautex designs, develops and manufactures traditional and hybrid fuel systems, advanced cleaning solutions for assisted and autonomous driving, engine camshafts and plastic industrial packaging solutions. A pioneer in the design and manufacture of automotive plastic fuel systems, Kautex is expanding its portfolio to offer smart products and data-driven services to our customers, including thermoplastic composite and composite-metal hybrid battery systems. From a lightweight battery system to a hybrid fuel system to autonomous drive vehicle cleaning systems, Kautex is committed to pioneering solutions for the era of new mobility.

Our employees are part of a global community committed to solving customer needs, leveraging diverse skillsets, making sustainability a differentiator, embracing the diversity that is part of a global, multi-industry leader and creating an environment where employees can build a dynamic career. Together, we are reimagining the future of mobility.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, and Textron Systems. For more information, visit: www.textron.com

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements.

BRUC is one of the largest and most dynamic renewable energy groups in Spain. Founded by the entrepreneur Juan Béjar, the shareholder is composed of OPTrust, USS and Interogo Holding. Luis Venero is the company’s CEO. 

BRUC believes that an energy transition to a decarbonized economy is urgently required. Part of this transition rests on the development of clean energies, whose contribution to countries’ energy systems must be growing. BRUC’s mission is to generate attractive investment opportunities in the field of renewable energies and to manage assets with the objective of contributing to the sustainability of energy supply systems and substantially reducing their environmental impact. 

BRUC currently has a renewable portfolio in Spain comprising photovoltaic, wind and battery assets totaling 9,100 MW in operation, construction and development.