Greenalia and Aisin Corporation of America sign virtual power purchase agreement (VPPA) for 50 MW

• This agreement provides long-term source of renewable energy to offset co2 production emissions in North America

Greenalia Power US and Aisin Holdings of America, Inc. have entered into a Virtual Power Purchase Agreement (VPPA) with, 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, 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 Kuzuto Koyama, president and CEO, Aisin Holdings of America. “This VPPA is a critical part of Aisin’s sustainability activities and focus on daily energy reduction activities in our plants, in our homes and in our communities.”

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 nameplate¹ capacity, or 50MW of renewable energy attributes. Construction is expected to be completed, and the project to become operational, in 2025.

About Aisin

AISIN Corporation is a top ten, global Tier One supplier of automotive components and systems such as brakes, transmissions, navigation systems, drivetrain, chassis, body, engine-related parts, electronics, connected & shared services, 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 envisions carbon neutral production by 2035, zero-emission plants by 2040, and comprehensible carbon neutrality by 2050. To achieve these goals, 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 is increasing the number of onsite renewables along with the use of environmental attributes like Misae II development.

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.