Bosch Signs 12-year Solar Power PPA with Vattenfall

Mark Segal August 5, 2020

Engineering and technology multinational company Bosch announced today that it has signed a power purchase agreement (PPA) with electric power producer Vattenfall. The agreement will see Vattenfall provide Bosch with renewable electricity for 12 years.

Vattenfall will supply the electricity to Bosch from a 10 Megawatt solar park that is currently planned for construction in the region of Mecklenburg-Western Pomerania in north-eastern Germany. The company anticipates first delivery of power from the park in the first quarter of 2021.

Christine Lauber, Director Sales and Origination Germany in Vattenfall, said:

“We are very pleased to have signed a contract with Bosch. This project underlines our ambition to become a leading provider of renewable corporate PPAs.
“Vattenfall wants to make fossil-free living possible within one generation. This applies to our own operations and also to our partners in industry that we want to support in achieving their sustainability goals.”

Today’s announcement is anticipated to help Bosch achieve its stated sustainability goals, which include becoming climate neutral at the end of 2020, and gradually improving the quality of its CO₂ neutral position by further investing in the supply of renewable energies and in energy efficiency measures through 2030.

Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.