Swedish car manufacturer Volvo Group, whose majority is owned by Chinese Geely Group, has signed a 10-year deal to buy half of the power produced by Sweden’s new Bruzaholm wind farm. The deal is set to start in 2025, the companies said on Tuesday, May 23.
Swedish state-owned energy company Vattenfall will start construction of the wind farm with a capacity of 140 megawatts this summer.
“The agreement signals our commitment to prioritize low-carbon investments,” said Volvo CEO Martin Lundstedt in a statement.
Vattenfall operates over 1,200 wind turbines with a capacity of over 4 gigawatts in five European countries.