Iberdrola and Bayer team up for green power in Italy.

By Oliver Townsend May 23, 2024
Iberdrola and Bayer Extend Partnership with Green Power Purchase Agreement in Italy.jpegOrginal image from: https://solarquarter.com/2024/05/23/iberdrola-and-bayer-extend-partnership-with-green-power-purchase-agreement-in-italy/

When it comes to sustainability and environmental commitments, partnerships between corporations play a crucial role in driving change. Recently, Iberdrola and Bayer have extended their partnership through a green power purchase agreement (PPA) in Italy. This agreement, set to run for 11 years starting in January 2025, will see Bayer’s plant in Garbagnate, Milan powered exclusively by renewable electricity supplied by Iberdrola. Let’s delve deeper into this partnership and its implications.

Green Energy Partnership in Italy

Under the terms of the agreement, Iberdrola will provide 33 GWh of green energy over the contract period. This electricity will be generated by the Montefiascone photovoltaic plant in the Lazio region. With an installed capacity of 7 MW, the plant is expected to prevent the emission of over 3,200 tonnes of CO2, equivalent to the electricity demand of more than 4,000 homes. This move showcases Bayer’s commitment to sustainable practices and environmental responsibility.

Iberdrola’s Sustainable Initiatives in Italy

Iberdrola’s involvement in Italy reflects its dedication to industrial decarbonisation and promoting self-consumption through renewable energy solutions. By 2025, with projects like the Montefiascone plant and other authorized photovoltaic initiatives, Iberdrola aims to achieve an operational capacity of 400 MW in Italy. This demonstrates the company’s strategic approach to minimizing environmental impact and advancing sustainable energy practices.

Expanding Sustainable Energy Procurement

Several Italian companies have already committed to sourcing green energy from Iberdrola through long-term power purchase agreements. The growing trend towards sustainable energy procurement in the region can be seen through partnerships with companies like the Tosano supermarket chain and the BTicino metallurgical company. This shift towards sustainable practices highlights the increasing importance of environmental considerations in business operations.

Leading in the PPA Market

Iberdrola’s leadership in the PPA market extends beyond Italy to Europe, the UK, the US, Brazil, Mexico, and Australia. With a strong track record in developing such agreements, Iberdrola ranks as the leading PPA provider in Europe for 2023, according to consultancy Pexapark. By securing contracts to sell around 90% of the energy it plans to generate, Iberdrola ensures long-term visibility in delivering sustainable energy solutions and driving positive change.

Conclusion

The partnership between Iberdrola and Bayer in Italy highlights the power of collaboration in advancing sustainability goals. By extending their commitment to green energy through a PPA, these companies set an example for others to follow. As the trend towards sustainable practices continues to grow, initiatives like these pave the way for a more environmentally conscious future.

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