By Giulia Petroni

RWE AG said Thursday that it has signed a 10-year power purchase agreement to supply up to 170 gigawatt hours of green electricity per year to Volkswagen AG for the electrification of its fleet.

The German energy company said it will source electricity from asset manager Luxcara's solar plant in Germany, which should be completed by the end of the year. Supply is scheduled to start in 2022.

RWE and Volkswagen are currently in talks over further purchase agreements, according to the company.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

April 29, 2021 03:51 ET (07:51 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Rwe (PK) (USOTC:RWEOY)
Historical Stock Chart
From Dec 2024 to Jan 2025 Click Here for more Rwe (PK) Charts.
Rwe (PK) (USOTC:RWEOY)
Historical Stock Chart
From Jan 2024 to Jan 2025 Click Here for more Rwe (PK) Charts.