Advanced pump solutions and water technologies company Grundfos announced a new partnership with German renewable energy company ABO Wind in which 80% of Grundfos’ European power consumption will be sourced from renewable energy. It also reportedly allows Grundfos to reach its 2030 target of reducing Scope 1 and 2 greenhouse gas (GHG) emissions by 50% in 2025. Grundfos executive vice-president and CFO Mikael Geday said, “We now take our sustainability journey to the next level by reaching our 2030 targets five years ahead of time.”
Grundfos will receive green energy from a wind farm, currently being built in the municipality of Haapajärvi, Finland. The wind farm, consisting of 14 Vestas turbines, will be fully commissioned by the end of 2023. With manufacturing presence in Europe, Grundfos has committed itself to buying energy sourced from the wind farm for the next 10 years.
The agreement links to Grundfos’ overall emission reduction strategy. Last year, the company is said to be the first in the water solutions sector to receive full validation of its 2050 net-zero target from the Science-Based Targets initiative (SBTi). SBTi also validated the company’s near-term target of halving its Scope 1 and 2 GHG emissions by 2030.
