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Grundfos Achieves its 2030 Emission Targets Ahead of Schedule with the Support of act renewable, and LevelTen Energy

LevelTen News
September 7, 2023

Grundfos, a global leader in advanced pump solutions and water technologies has surpassed its 2023 emission reduction targets by five years and act renewable (AR) is proud to have played a pivotal role facilitating the process.

AR has been working with Grundfos for several years, guiding the global pioneer through the entire renewable energy roadmap. This achievement stems from an innovative collaboration between Grundfos and renowned German renewable energy company ABO Wind.

As part of Grundfos' ambitious decarbonization journey, developed in 2021, Power Purchase Agreements (PPAs) were identified as a key strategy to cover a significant portion of their emissions. AR took the lead by providing support to Grundfos,training key stakeholders on the intricacies of PPAs, identifying the optimal sourcing strategy and products, and ultimately finding a well-suited supplier and project, leading to the successful signing of the PPA.

In collaboration with LevelTen Energy, the world’s largest two-sided marketplace for renewable energy power purchase agreements and International law-firm Gorrissen Federspiel, AR supported Grundfos secure a high-value, low risk PPA offering and access renewable energy sources.

Grundfosstrategic partnership with ABO Wind has enabled them to source 80% of their European power consumption from renewable sources. This alliance not only allows Grundfos to achieve its 2030 target of reducing Scope 1 and 2 greenhouse gas emissions by 50%, but it also positions the company as a trailblazer in the transition towards a sustainable future.

The partnership will enable Grundfos to receive clean, green energy from a wind farm in Haapajärvi, Finland, consisting of 14 Vestas turbines, which is due to be fully commissioned by the end of 2023. Grundfos has committed to sourcing its energy from this wind farm for the next decade.

Klaus E. Christensen, Lead Senior Project Manager EHS at Grundfos comments:

Grundfos is proud of having achieved a major milestone in it decarbonization journey, reducing the majority our Grundfos carbon emission from our own European operations through the collaboration with ABO Wind. We much appreciate the competent support we have gotten from act renewable and the rest of our advisor team, leading us through the complex process of renewable energy procurement finally leading to signing a PPA.  

Rasmus Nedergaard, Managing Director of act renewable shares that “it has been an invigorating journey so far for the act renewable team working with Grundfos to surpass this significant milestone ahead of schedule. It is a testament to their dedication to sustainability and it has been inspiring to witness their unwavering commitment. We hope that this remarkable achievement ignites a spark and motivates other major corporates to take bold actions.”

Flemming Sørensen, Vice President of Europe, at LevelTen Energy comments:
“We applaud Grundfos, ABO Wind, and our esteemed partner organization, act renewable on this monumental achievement. We are pleased that LevelTen’s Energy Marketplace was able to connect these three leaders and enable them to sign a PPA in a very competitive environment.”

Looking ahead, AR is committed to providing continued support, ensuring Grundfos maximizes the benefits of their PPA and the collaboration with ABO Wind.

The partnership with Grundfos, ABO Wind and LevelTen and Gorrissen Federspeil demonstrates the power of collective action in advancing the global transition to renewable energy solutions. AR is proud to have played a pivotal role in Grundfos’ transition journey and looks forward to continuing its commitment to supporting global businesses achieve their renewable energy potential.

LevelTen Energy

LevelTen Energy is the leading provider of renewable transaction infrastructure, delivering the marketplaces, software, automated analytics, and expertise required to accelerate clean energy transactions. The LevelTen Platform is the world’s largest online hub for renewable energy buyers, sellers, advisors, asset owners and financiers. The Platform includes the LevelTen Energy Marketplace, which delivers access to more than 4,500 power purchase agreement price offers spanning 28 countries in North America and Europe. It also includes the LevelTen Asset Marketplace, which brings together over 800 renewable energy project developers and owners, and delivers the online tools and expertise they need to buy, sell and finance assets quickly. Together, LevelTen and its partners share #OneGoal to accelerate the energy transition.

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