EDP Renováveis, S.A. has signed a Virtual Power Purchase Agreement (PPA) with global fashion retailer Inditex involving two wind projects with a total combined capacity of 54 MW in Galicia, Spain. The projects are expected to enter operation by 2025 and 2026, and further scaling up would be linked to environmental approvals.
This move represents EDP's growth strategy based on developing competitive projects with long-term visibility that foster the acceleration of the energy transition and the decarbonization of the economy.
Since the agreement is virtual, the agreement allows Inditex to minimize its exposure to market volatility and improve the sustainability of its supply chain. The PPA will also have a positive impact on Spain's long-term energy security while increasing the share of renewable energy in its energy mix.
