Iberdrola and Uvesco sign the first PPA in Spain with a distribution group
Iberdrola has signed a Power Purchase Agreement with Uvesco Group (BM Supermarcados) for the supply of electricity produced from renewable sources on a long-term basis. This makes it the first PPA signed between a power company and a distribution group in Spain.
All of the energy supplied will come from a renewable source: the Nuñez de Balboa solar plant that Iberdrola will be building in Usagre (Badajoz-Extremadura). It is set to be Europe's biggest solar power plant, with a capacity of 391 MW.
This contract will save Euskaltel from releasing over 26,700 tons of CO2 a year and will mean a step forward in the decarbonisation of the economy.
IBERDROLA'S PPAS IN SPAIN, USA AND MEXICO
The term PPA stands for Power Purchase Agreement and designates long-term power supply agreements that provide stability for investments made by energy providers whilst guaranteeing a reliable supply for major energy consumers at competitive and predictable prices. These arrangements also help them to reach their sustainability and climate change goals thanks to the clean energy certificates associated with PPAs.
Over the past few years, Iberdrola has struck up long-term power purchase agreements (PPAs) in Spain, with Kutxabank and Euskaltel, and in the USA and Mexico. So far, in America they have signed PPAs with U.S. multinationals for over 800 megawatts (MW), including Amazon with a wind farm in North Carolina; Apple with the newly built solar and wind power plants in Oregon; and Nike and Google with wind farms in Oregon, Texas and South Dakota.
In Mexico, Iberdrola has built wind farms and solar power plants with an installed power of 600 MW that will be supplying energy to private industrial clients through long term PPAs, as well as the clean energy certificates associated with these facilities.
Iberdrola is the world's prime renewable energy company, boasting an installed capacity of over 29,500 MW, more than 15,800 of which are produced in Spain. After investing more than € 95 billion in clean energy over the past 18 years, this will continue to be one of its key courses of action. In fact, the company expects to invest € 32 billion by 2022, dedicating 37% to renewable projects.
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