Automotive supplier PWO to go solar at Chinese site

German car parts supplier Progress-Werk Oberkirch AG (ETR:PWO), or PWO, will build a photovoltaic system with an annual output of around 400,000 kWh of green electricity at its location in Suzhou, China.

The solar facility will allow the site to be less dependent on the fluctuating electricity prices in the market, PWO said on Monday.

In addition to the site in Suzhou, PWO has another location in eastern China -- in Shenyang. Both sites are supplying the Asian manufacturing plants of European car makers and seek to switch to green electricity by 2026.

Greening the two sites in China is "an important factor" for reducing emissions of the entire company as they are expected to generate about one-third of the group’s greenhouse gas emissions in 2023.

PWO has already cut its greenhouse gas emissions by almost 40% compared to 2019.

The company’s Chinese locations generated revenue of EUR 52 million (USD 56.2m) in 2022, or about one-tenth of the group’s total revenue.

(EUR 1 = USD 1.081)

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