Deal Sheet: PowerCo (VW)'s Renewable Energy PPAs for Salzgitter Gigafactory

Long-Term Renewable Energy Agreements Powering Sustainability at Salzgitter Gigafactory

Overview:

PowerCo SE, a global battery cell manufacturer and subsidiary of the Volkswagen Group, has signed two long-term power purchase agreements with leading renewable energy producers Alterric and EnviTec Biogas AG.

These agreements will supply the Salzgitter Gigafactory in Germany with 240 GWh per year of wind power (Alterric) and 65 GWh per year of solar power (EnviTec Biogas AG), totalling 3 TWh over a ten-year period. The initiative ensures that the Gigafactory's operations will be powered by renewable energy, supporting PowerCo's commitment to sustainability and significant carbon reduction.

Jörg Teichmann, Chief Procurement Officer of PowerCo SE, emphasised the importance of building a robust European battery supply chain with high sustainability standards.

Alterric, led by Managing Director Dr Frank May, will contribute electricity from its independent wind projects in Lower Saxony. EnviTec Biogas AG, led by CEO Olaf von Lehmden, will supply solar energy from a new solar park in Buckow, Brandenburg, financed by the von Lehmden Group.