Iberdrola and Gestamp have signed a 10-year power purchase agreement to supply 660,000MWh of renewable electricity to the manufacturer’s European plants.
Iberdrola said the agreement covers 34MW of capacity and will deliver 100% renewable energy, made up of 80% wind and 20% solar, backed by guarantees of origin certificates.
The company added the deal will provide Gestamp with long-term energy at a fixed and competitive price, supporting cost stability and decarbonisation of its operations.
The agreement reflects both companies’ focus on electrification of industrial processes and a more sustainable production model.
For Iberdrola, the deal expands its PPA portfolio and strengthens its position as a supplier to industrial customers.
“These long-term contracts form part of Iberdrola’s strategy to promote stable partnerships with major customers, advance the electrification of the industrial and business fabric, and contribute to a self-sufficient, secure, competitive and sustainable energy system capable of meeting growing demand,” said David Martínez, director of the retail business at Iberdrola España.
“This agreement marks a very important milestone for the company, as it represents a further step in our efforts to implement more sustainable production processes that prioritise electrification, energy efficiency and the use of renewable sources,” said Javier Imaz, chief purchasing officer at Gestamp.