- 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.
