Top Stories
Mercedes-Benz in preliminary offshore wind deal for electricity from 2027
Global Banking & Finance Review®
Company
BERLIN (Reuters) – Mercedes-Benz has struck a preliminary agreement with an offshore wind provider to supply electricity equivalent to 25% of its demand in Germany from 2027 onwards, a spokesperson for the
BERLIN (Reuters) – Mercedes-Benz has struck a preliminary agreement with an offshore wind provider to supply electricity equivalent to 25% of its demand in Germany from 2027 onwards, a spokesperson for the carmaker said on Monday.
The energy provider, which the spokesperson declined to name, will reserve the energy for Mercedes-Benz from an offshore wind park under construction in the Baltic Sea.
Russia’s invasion of Ukraine and spiking gas prices have stepped up the urgency for German industry, which consumes another 30% of the country’s energy, to move away from fossil fuels, with tools like carbon offsets and renewable energy certificates no longer enough to meet the new goal of energy independence.
The carmaker, which previously said it aims to cover 70% of its energy demand with renewables by 2030, said in April it was sourcing all its electricity for Germany from green sources from 2022 onwards under purchase power agreements with Statkraft and Enovos.
It is also planning to build a wind farm in the northwestern German state of Lower Saxony by 2025 that is able to produce a hundred megawatts of electricity, equivalent to over 15% of the carmaker’s annual demand in Germany.
(Reporting by Victoria Waldersee; editing by David Evans)
Renewable energy is energy generated from natural resources that are replenished over time, such as solar, wind, and hydroelectric power. It is considered more sustainable than fossil fuels.
Carbon offsets are reductions in emissions of carbon dioxide or greenhouse gases made in order to compensate for emissions produced elsewhere. They are often used to mitigate climate change.
An offshore wind park is a facility that generates electricity using wind turbines located in bodies of water, typically oceans or large lakes, to harness wind energy.
Energy independence refers to a country's ability to meet its energy needs without relying on foreign energy sources, often achieved through the development of domestic energy resources.
Explore more articles in the Top Stories category
