Volvo Partners With Sweden's Vattenfall For Renewable Electricity
Portfolio Pulse from Shivani Kumaresan
Volvo AB has signed a long-term agreement with Vattenfall, Sweden's largest producer of renewable electricity. Volvo Group will purchase 50% of the renewable electricity produced at Bruzaholm wind park in Sweden for 10 years starting in Q4 2025. The partnership supports Volvo's commitment to achieve net-zero greenhouse gas emissions by 2040.
May 23, 2023 | 4:20 pm
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POSITIVE IMPACT
Volvo's partnership with Vattenfall to purchase renewable electricity from Bruzaholm wind park supports its net-zero emissions goal by 2040.
The partnership with Vattenfall is a significant step for Volvo in achieving its net-zero emissions goal by 2040. This long-term agreement to purchase renewable electricity will help reduce the company's carbon footprint and contribute to its sustainability efforts. As a result, this news is likely to have a positive impact on Volvo's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100