New agreement provides long-term source of renewable energy to offset CO2 production emissions in North America
AISIN Holdings of America, Inc. announced today that it has entered into a Virtual Power Purchase Agreement (VPPA) with Greenalia Power US, a renewable energy producer, for 50MW, and approximately 130,000 MWh of annual sustainable, renewable energy from Greenalia’s Misae II Solar project in Childress County, Texas.
This is the first time any AISIN location in the world has used a VPPA as a long-term source of renewable energy credits to offset CO2 production emissions. This VPPA marks a major step towards AISIN’s CO2 reduction and renewable energy goals as stated in the company’s latest Sustainability Report.
“We must all act to improve sustainability, reduce CO2, encourage renewable energy and ensure that we are part of a green supply chain,” said Kazuto Koyama, president and CEO, AISIN Holdings of America. “This VPPA is a critical part of AISIN’s sustainability focus and related effort toward daily energy reduction activities in our plants, in our homes and in our communities.”
Details of AISIN’s VPPA
Through this VPPA, Greenalia Power US will manage the construction as well as own and operate the Misae II Solar project in Childress, Texas. AISIN will purchase approximately 18% of the project’s nameplate capacity, or 50MW of renewable energy attributes. Construction is expected to be completed, and the project to become operational, in late 2025.
AISIN’s Sustainability Story
Driven by a desire to encourage employee awareness and invest in better stewardship of the environment, AISIN is implementing initiatives that support a corporate culture that is serious about creating a more sustainable environment for future generations.
AISIN envisions carbon neutral production by 2035, zero-emission plants by 2040, and comprehensible carbon neutrality by 2050. To achieve these goals, AISIN is working to reduce CO2 emissions from production and throughout the lifecycle of their products through energy conservation, innovation in production technology, and the adoption of renewable energy.
AISIN is continuously working to reduce its carbon footprint throughout the globe. In North America AISIN has created a carbon neutrality organization spanning several disciplines. The most aggressive activities are based on reducing energy consumption throughout the production facilities. AISIN is also increasing the amount of onsite renewables along with the use of environmental attributes like Misae II development.
About AISIN
AISIN Corporation is a top ten, global Tier One supplier of automotive components and systems such as powertrain, body, brakes, connected & shared services, navigation systems, drivetrain, chassis, engine-related parts, electronics, and intelligent transportation systems and is the largest transmission manufacturer in the world. A $32 billion company, AISIN Group has 200 consolidated companies and employs more than 120,000 people. In the Americas, AISIN Group companies include 14,000 employees, 40 manufacturing, sales, and R & D centers, including AISIN Technical Center of America, and the Fowlerville Proving Ground, the company’s 950-acre test track located one hour from Detroit. AISIN is also a leading supplier of electrified components for EVs, BEVs, PHEVs and HEVs in several product categories. AISIN has been an automotive parts manufacturer in North America since 1987 when it established AISIN USA Manufacturing in Seymour, Ind., and has invested more than $3.5 billion in many communities.
About Virtual PPA
A virtual PPA (VPPA) is a “virtual power purchase agreement,” meaning that only the environmental value based on the amount of electricity generated from a renewable energy power plant built outside the consumer’s premises is traded, without involving actual electricity. The consumer can procure Renewable Energy Certificates (RECs) without having to change their electricity supplier. World Kinect Energy Services, a subsidiary of World Kinect Corporation, based in Miami, served as advisor for the VPPA between AISIN and Greenalia Power US.
Media Contacts:
Jeff Copeland – General Manager, Environmental, Safety and Energy, AISIN World Corp. of America
812.498.6431 – mobile
Joe Rohatynski – Vice President, Corporate Communications and External Affairs, AISIN World Corp. of America
313.378.6570 – mobile