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Volvo signs pact with CleanMax Solar for long-term power supply

Volvo signs pact with CleanMax Solar for long-term power supply

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The move is expected to reduce Volvo’s Carbon Dioxide emissions by 3,380 tonne per annum and will also lead to a significant operating cost savings for Volvo, the company said in a statement.

New Delhi: Volvo Group India (VGIPL), the Indian arm of the Swedish automotive company VOLVO, has signed an agreement with CleanMax Solar for long-term supply of 2.75 Megawatt of solar power for Volvo’s truck operations in Bangalore.

The move is expected to reduce Volvo’s Carbon Dioxide emissions by 3,380 tonne per annum and will also lead to a significant operating cost savings for Volvo, the company said in a statement. The agreement was signed by Kamal Bali, President and Managing Director of Volvo Group and Andrew Hines, Co-founder of CleanMax Solar.

“By supplying 60 per cent of their power requirement from our solar farm, Volvo will see significant operating cost savings while also making a very impressive reduction in their CO2 emissions,” Hines said. He added Volvo will achieve these benefits with minimal risk and hassle because the entire investment and operations is done by CleanMax.

Under the agreement, Volvo is expected to begin drawing power from CleanMax Solar’s Bellary facility in May 2018 for its Hoskote and Peenya manufacturing facilities and the supply would continue for ten years.

Source: energy.economictimes.indiatimes
Anand Gupta Editor - EQ Int'l Media Network