SKF, a leading industrial company, has recently made significant strides towards its goal of decarbonizing its operations. The company has entered into two renewable energy purchase agreements in North America, which will enable its factories and facilities in the U.S. and Canada to be powered by 100% renewable electricity.
The first agreement focuses on investing in Green-e certified wind energy. Green-e is a widely recognized clean energy certification program. This partnership will extend through 2025, ensuring a long-term commitment to renewable energy.
In addition to the wind energy agreement, SKF has also signed a 12-year deal with Clearway Energy. This agreement entails sourcing a portion of the energy generated from a 452 megawatt solar farm that is currently under construction in Texas, U.S. Starting in 2026, this agreement will effectively address 100% of SKF’s annual electricity consumption in its U.S. and Canada facilities with renewable electricity.
SKF’s commitment to renewable energy is part of its broader sustainability goals. By utilizing renewable energy sources, the company aims to significantly reduce its carbon footprint. This move aligns with SKF’s ambition to decarbonize its operations by 2030 and become net zero throughout its entire value chain by 2050.
These renewable energy purchase agreements mark an important step forward for SKF in its sustainability journey. By powering its facilities with 100% renewable electricity, the company is demonstrating its commitment to environmental responsibility and contributing to a greener future.
For more information, contact Dominic Chopping at dominic.chopping@wsj.com.