By Nick Carey
LONDON (Reuters) - Luxury British automaker Jaguar Land Rover (JLR) aims to generate 36.4% of its own power globally from renewable energy projects by 2030 to cut energy bills, reduce reliance on the grid, and help lower carbon emissions, it said on Thursday
The unit of India's Tata Motors said it aimed to generate more than a quarter of its own energy in the United Kingdom, where the bulk of its operations are located.
The company said work would start this year on the automaker's first three UK solar projects in Gaydon, Halewood and Wolverhampton, which should be completed by the end of 2026.
As well as pushing to cut carbon emissions, automakers have been seeking ways to make production costs more predictable.
Last October, Mercedes-Benz said it had signed a power purchase agreement (PPA) with Spain's Iberdrola (BME:IBE) for 140 megawatts (MW) of wind energy from a Baltic Sea wind park.
JLR said its new off-grid energy projects aimed to produce almost 120 MW of renewable energy at their peak, enough to power nearly 44,500 homes.
JLR said its existing energy efficiency projects cut emissions by 26% in 2023 compared to 2020. The automaker aims to cut carbon emissions across its operations by 46% by 2030 and is targeting net zero emissions by 2039.