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Iberdrola and German pharmaceutical giant Bayer have extended their partnership
- Iberdrola expands its alliance with pharmaceutical giant Bayer to supply green energy in Italy [PDF]
- The utility will supply 100% clean electricity to a plant of the laboratories in Italy for 11 years.
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Iberdrola's operating power in Italy will reach 400 MW by 2025.
Iberdrola and German pharmaceutical giant Bayer have extended their partnership, signing a green power purchase agreement (PPA) in Italy for 11 years from January 2025, for a total of 33 GWh over the period.
The agreement expands the international alliance between Bayer and Iberdrola, adding to existing agreements between the two companies in Spain and Mexico to promote cleaner and more sustainable consumption. Bayer's plant in Garbagnate (Milan) will use only electricity from renewable sources, confirming the pharmaceutical company's commitment to environmental sustainability.
The energy will be produced by the Montefiascone photovoltaic plant (in the Lazio region), Iberdrola's second photovoltaic plant in Italy with a total installed capacity of 7 MW. Once operational, the plant will prevent the emission into the atmosphere of more than 3,200 tonnes of CO2, equivalent to the electricity demand of more than 4,000 homes.
Iberdrola's role in Italy
Iberdrola is actively involved in the development of strategies and solutions for industrial decarbonisation,based on the use of renewables and the promotion of self-consumption, which enable the reduction of environmental impact.
With the inauguration of its second operational plant and the completion of the photovoltaic plants already authorised, Iberdrola will have an operational capacity of 400 MW in Italy by 2025.
Several companies in Italy have already entrusted Iberdrola with the long-term supply of green energy through corporate PPA agreements, such as those signed this year with the Tosano supermarket chain and the BTicino metallurgical company.
Leading the PPA market
Iberdrola has signed long-term power purchase agreements in Europe, the UK, the US, Brazil, Mexico and Australia from onshore wind, offshore wind and photovoltaic projects.
The group began developing this type of agreement more than a decade ago and Iberdrola is now the leader in the ranking of PPAs in Europe in 2023, according to the consultancy Pexapark. Iberdrola has sold around 90% of the energy it plans to generate between 2024 and 2025, giving the company visibility in delivering sustainable energy in the long term.
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Iberdrola SA published this content on 22 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 May 2024 08:07:03 UTC.
