Vw increases its investment in friendly energy up to nearly 1 billion euros

Article by Christian Andrei, on August 26, 2011

Volkswagen announced that it will raise its investment in the production of environmentally friendly energy up to nearly 1 billion euros ($1.44 billion) in more than two years, according to reports in Germany.

This is a boost over VW’s initial commitment to renewable energy as it had said last June that it has a mid-term target of about 600 million euros. VW is aiming to purchase an interest in a minimum of two offshore windparks.

It is expected that VW will announce its partnership with windpark developer Windreich Financial Times Deutschland by the end of 2011, according to Autonews.

This is not the first time that Volkswagen has dabbled with wind energy. VW rolls out the Passat in the municipal utility in the German port city of Emden, which runs a windpark that supplies about 20 million kilowatt-hours of electricity annually.

A Volkswagen spokesman said that talks are ongoing with operators about a stake in offshore windparks. In late June, a deal was signed by the group's plant unit Volkswagen Kraftwerk GmbH to generate about 10% of the electricity used in its 12 German manufacturing plants from hydropower produced by Austria's Verbund beginning in 2013.

Volkswagen intends to cut the amount of greenhouse gas emissions from its production plants by 40% over a 10-year period compared with 2010.

Topics: vw, investment

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The bidding war for one of the only 20 examples -- 21 actually, but the 00 version went to a museum -- of the classically beautiful Lamborghini Reventon built and...
by - January 18, 2017
Bentley once again confirmed its plans to push PHEV into their future lineups. As a matter of fact, the Bentayga SUV will be the first to have the plugin hybrid...
by - January 18, 2017
Each time that Mini launches a new generation of the Countryman crossover, a John Cooper Works performance version is always expected to follow. When Mini unveiled the next-gen 2017 Mini...
by - January 18, 2017
Ford Mustang customers won’t be able to specify the V6 powerplant for the latest iteration of the carmaker’s pony car. This comes as the new 2018 Ford Mustang is saying...
by - January 18, 2017
The man sitting at the top of the performance division of Mercedes-Benz – Tobias Moers – cryptically indicated that the Mercedes-AMG GT4 could be really coming. Moers, chief executive of...
by - January 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries