German multinational engineering and technology company Bosch has signed a 16-year power purchase agreement with RWE.
RWE will source power from its new solar energy projects in Southern Germany to provide Bosch with up to 50MW.
The new solar plants 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.
Andree Stracke, the chief commercial officer origination and gas supply at RWE Supply & Trading, said: “By signing this agreement, we are taking the next step towards implementing Bosch’s ambitious climate protection programme.
“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.”
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.