Autoliv Secures Renewable Energy Supply Through Long-Term Virtual Power Agreements

Autoliv, Inc., a leading global automotive safety systems company, has signed two Virtual Power Purchase Agreements (VPPAs) with renewable energy sellers Alight and Eurowind Energy. The agreements will provide Autoliv's European operations with a stable, cost-efficient renewable electricity supply, as well as insulation against future energy market volatility.

Autoliv continues to strive towards its target of powering 100% of its electricity from renewable sources, and these new agreements are central to delivering its climate goals. Through securing long-term contracts, Autoliv is enhancing energy security as well as reaffirming its commitment to sustainable and cost-effective business operations throughout Europe.

12-Year Contracts to Ensure Energy Security and Stability

Spanning from 2027 to 2039, the VPPAs with Alight, a Swedish solar power provider, and Eurowind Energy, a Danish wind energy company, guarantee renewable electricity supply for more than a decade. The combination of solar and wind sources ensures consistent energy generation around the clock, while the geographical spread across Finland and Romania adds flexibility to Autoliv’s energy portfolio.

Magnus Jarlegren, President Autoliv Europe, said, “The projects with Alight and Eurowind Energy mark a significant milestone in our journey towards decarbonization, reinforcing our position as a sustainability leader in the automotive industry”

He added, “Through these initiatives, we support our ability to supply customers seeking sustainable products and we take a significant step forward in achieving our climate targets for the European operations”

New Renewable Projects in Finland and Romania

As part of the deal with Alight, a 100 MWp solar park will be constructed in Eurajoki, Finland. Set to produce approximately 100 GWh of electricity per year, sufficient to power about 20,000 homes, the project will break ground this spring and go into operation in 2026. Autoliv will sign a significant amount of the solar park's production, providing a reliable source of cheap clean energy.

Simultaneously, the deal with Eurowind Energy secures power from the future Pecineaga Wind Park in Romania. This 48 MW plant is expected to generate 176 GWh of renewable electricity annually when it goes on stream in 2027.

Also read: LyondellBasell Secures Two Power Purchase Agreements to Boost Renewable Energy Commitment

Supporting Autoliv’s Global Sustainability Goals

These European VPPAs represent a major advancement in Autoliv’s global climate strategy. Since the company released its climate roadmap in 2021, it has set itself a target of being carbon neutral in its operations by 2030 and net-zero across its supply chain by 2040. The partnerships with Alight and Eurowind Energy are central to achieving these goals.