STOCKHOLM, April 3, 2025 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV) (SSE: ALIVsdb), Autoliv is entering two Virtual Power Purchase Agreements with the two renewable electricity producers, Alight and Eurowind Energy. They are important for ensuring a consistent and reasonably priced energy supply for Autoliv's activities in Europe, reducing the risks associated with potential future energy price fluctuations. Autoliv seeks to improve its energy resilience and ensure its operations will continue to be both economical and sustainable even in the face of volatile markets.
Autoliv aims to transition to 100% renewable energy sources for its electricity consumption. The new Virtual Power Purchase Agreements with Swedish solar energy producer Alight, and Danish wind energy producer Eurowind Energy, are important steps in reaching Autoliv's climate targets. Moreover, the energy purchased with the agreements mitigates the risk of high price fluctuations in the future.
The agreements secure renewable electricity supply in the long term, with contracts spanning 12 years from 2027-2039. The innovative approach of combining solar and wind technologies ensures optimal energy generation during both day and night. This approach and the fact that the facilities are located in two different European countries provides flexibility in Autoliv's physical operations and electricity procurement.
"The projects with Alight and Eurowind Energy mark a significant milestone in our journey towards decarbonization, reinforcing our position as a sustainability leader in the automotive industry. Through these initiatives, we support our ability to supply customers seeking sustainable products and we take a significant step forward in achieving our climate targets for the European operations," says Magnus Jarlegren, President Autoliv Europe.
The Virtual Power Purchase Agreement with Alight enables the construction of a 100 MWp solar park in Eurajoki, Finland, which is projected to produce 100 GWh annually (equivalent to the electricity needs of approximately 20,000 households). When operational in 2026, Autoliv will contract a majority of the clean electricity produced to secure a long-term supply at a stable, low price. Construction is set to begin this spring.
The Virtual Power Purchase Agreement with Eurowind Energy involves another 12-year contract for clean electricity from a 48 MW wind park in Romania. Upon completion, the Pecineaga Wind Park will generate approximately 176 GWh annually. The park is expected to be operational by 2027.
European VPPAs Strongly Support Autoliv's Global Climate Targets
Autoliv aims to reduce greenhouse gas emissions and increase the circular use of materials throughout the value chain, supporting customers' transition to low-carbon, sustainable mobility. Launched in 2021, Autoliv's climate strategy is based on two long-term climate targets: carbon neutrality in own operations by 2030 and net-zero emissions across the supply chain by 2040.
"At Autoliv, we are committed to operating our business in an environmentally sustainable manner while delivering world-class products to our customers. With a focus on renewable electricity, we see Virtual Power Purchase Agreements as a strategic cornerstone of our low-carbon operations, and Alight and Eurowind Energy are key partners to our European operations," says Kaisa Tarna-Mani, Vice President of Sustainability at Autoliv.
Inquiries: Media: media@autoliv.com Gabriella Etemad, Tel +46 70 612 64 24, Emelie Ericson, Tel +46 70 957 81 35 Investors & Analysts: ir@autoliv.com Anders Trapp, Tel +46 709 578 171, Henrik Kaar, Tel +46 709 578 114
Autoliv, Inc. (NYSE: ALV; Nasdaq Stockholm: ALIV.sdb) is the worldwide leader in automotive safety systems. Through our group companies, we develop, manufacture and market protective systems, such as airbags, seatbelts, and steering wheels for all major automotive manufacturers in the world, as well as mobility safety solutions, such as commercial vehicles and electrical safety solutions. At Autoliv, we challenge and re-define the standards of mobility safety to sustainably deliver leading solutions. In 2024, our products saved approximately 37,000 lives and reduced around 600,000 injuries.
We have operations in 25 countries, and we drive innovation, research, and development at our 13 technical centers. Our 65,000 employees are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. Sales in 2024 amounted to $10.4 billion. For more information go to www.autoliv.com.
Safe Harbor Statement
This report contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Autoliv, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any such statements in light of new information or future events, except as required by law.
