Iberdrola signs PPA for 590 MW solar PV project in Spain
Iberdrola and Danone have joined forces in their sustainability commitments with the signing of a long-term 10 year Power Purchase Agreement (PPA), which will drive the development of Europe's biggest photovoltaic plant.
The 100% renewable electricity supplied will come from the Francisco Pizarro project - currently the largest PV plant planned for Europe with a capacity of 590 MW - which Iberdrola is building in the municipalities of Torrecillas de la Tiesa and Aldeacentenera, in Cáceres, Extremadura, Spain.
The agreement reached will guarantee the long-term green supply of electricity to all Danone's Spanish production plants and its natural water sources, located in Asturias, Barcelona, Gerona, Guadalajara, Granada, Madrid and Valencia; as well as its logistics centres and offices. Danone España's suppliers, Graham Packaging and Salvesen Logística, have also joined the alliance.
The terms of the agreement reached between the two companies establish that Iberdrola will provide green energy to the 29 supply points in Danone in Spain for a period of 10 years from April 2022. The consumption to be supplied under the PPA formula will be 73 GWh/year. Danone will complete its green energy supply with another annual energy contract with Iberdrola up to 104 GWh/year.
The EUR300 million (USD339.5 million) project is expected to be operational in 2022 and prevents the emission of 245,000 tonnes of CO2 per year.
