Iberdrola and Bayer in Spain are joining forces in the transition to a green economy with the signing of the first long-term power purchase agreement (PPA) between an electricity utility and a pharmaceutical company in Spain, generated by clean generation sources.
Iberdrola will supply 100 % renewable electricity to cover the entire electricity procurement of the nine Bayer sites in Spain, including three factories, five research and development (R&D) centers and the company's headquarters for Iberia.
This initiative will be effective in 100 % of these centers from 2022 and for a ten-year period, with the electricity generated by the Francisco Pizarro photovoltaic plant - Europe's largest planned photovoltaic plant - which Iberdrola will build in Extremadura and which has already received environmental impact approval (EIS). Until that time, the agreement includes a 'bridge contract' under which Bayer will now consume all the electricity it needs without emissions, with guarantee of origin (GO) labels.
