BRUSSELS -- Volvo Group has signed a 10-year deal to buy half of the power produced by Sweden's new Bruzaholm wind farm starting in 2025, the companies said.
Swedish state-owned energy company Vattenfall will start construction of the wind farm with a capacity of 140 megawatts this summer.
"The agreement signals our commitment to prioritize low-carbon investments, source renewable energy and take climate action across everything we do," Volvo Group CEO Martin Lundstedt said in a statement on Tuesday.
Volvo Trucks, a unit of the group, plans for 50 percent of its truck sales to be electric by 2030.
Vattenfall operates over 1,200 wind turbines with a capacity of over 4 gigawatts in five European countries.