These new Nordic power purchase agreements complement our three other Swedish wind deals and enable us to power even more of our European operations with renewable energy. In total, we now have seven purchase agreements in Europe, totalling more than 500 MW and 18 such deals globally, which means we’ve now purchased nearly 2.5 gigawatts (GW) worldwide — the equivalent of taking over 1 million cars off the road.
One of our key goals is to enable the addition of new renewable energy generation capacity to the grid, rather than drawing power from existing facilities. And thanks to Europe’s increasingly integrated energy market, we’re able to buy wind energy in Norway and Sweden, and consume it elsewhere in Europe.
We’ve known for a long time that reducing energy usage and using renewables makes good business sense — we signed our first major power purchase agreement for 114 MW of Iowa wind in 2010. Others are discovering the benefits of renewables too — in the U.S. alone, companies bought almost 3.5 GW of renewable energy last year. We’re pleased to have played a part in stimulating the market for corporate renewable energy purchasing and doing our share in the effort to mitigate climate change.