This ambitious target is to be achieved by means of power purchase agreements (PPAs) and investments in the Group's own renewable energy projects, among other things.
"Companies can only remain successful if they transfer global connections and developments into their actions and assume responsibility for the consequences of their business activities," says Klaus Josef Lutz, CEO of BayWa AG. As one of the few companies to date, the Group's climate strategy is based on the findings of the Intergovernmental Panel on Climate Change, which considers it necessary and possible to successfully limit global warming to 1.5 degree. "We want to support this ambitious goal with all our strength. Renewable energies play an important role in this," said Lutz.
2.5 GW of green energy already connected to the grid
Ten years ago, BayWa established the Renewable Energies Business Area, thus helping to shape the transformation of energy systems from the outset. The BayWa subsidiary BayWa r.e. renewable energy GmbH has since connected 2.5 gigawatt of green energy to the grid and is now one of the world's leading project planners for solar and wind power plants. "As BayWa Group, we unite the entire know-how under one roof. We are highly motivated to achieve this ambitious goal together," says Matthias Taft, Member of the Management Board responsible for Energy.
Sam Kimmins, Head of RE100, The Climate Group, said: “BayWa AG’s ambitious commitment to reach 100% renewable electricity by 2020 sends a clear message that going all in on renewables is a sound business decision. With solar and onshore wind increasingly providing the cheapest sources of new electricity generation, there’s no reason to delay – clean power is good for both the bottom line and for tackling carbon emissions.”
About RE100
Led by The Climate Group in partnership with CDP, RE100 is a global leadership initiative bringing together more than 180 of the world’s most influential businesses committed to 100% renewable power. RE100 members, including Global Fortune 500 companies, have a total revenue of over US$ 4.5 trillion and operate in a diverse range of sectors – from information technology to automobile manufacturing. Together, they send a powerful signal to policymakers and investors to accelerate the transition to a low carbon economy. More: RE100.org (HCN)
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