Introduction:
Iberdrola, a global leader in the energy sector, has taken a significant step in reinforcing its commitment to the planet's decarbonization. In a landmark move, the company has inked a Power Purchase Agreement (PPA) with Tosano supermarkets, an expansive retail chain with over 19 hypermarkets across Italy. This strategic collaboration is set to empower Tosano's operations with clean, renewable energy, propelling the supermarket giant towards its sustainability goals.
A Decade-Long Commitment to Clean Energy:
Under the ten-year PPA, Iberdrola will channel energy from its photovoltaic plants to sustain Tosano's estimated annual consumption of 20 GWh. This agreement not only secures Tosano's energy needs but also fortifies its energy independence and fast-tracks its decarbonization journey.
Sustainability Across the Northeast:
Tosano's leap into renewable energy consumption is a visionary step that projects the company into a sustainable future. This green transition is expected to yield a substantial reduction in CO2 emissions, estimated at about 6,000 tonnes annually. Tosano's stores, spanning from Verona to Vicenza and Brescia to Venice, will now bask in the benefits of green energy, setting an environmental benchmark in the retail sector.
Iberdrola's Expanding Footprint in Italy:
Iberdrola is on course to expand its operational capacity in Italy to 400 MW by 2025, with the inauguration of its second plant and the completion of four more facilities currently underway. This growth is a testament to Iberdrola's unwavering dedication to providing sustainable energy solutions.
Shared Values and Common Goals:
Andrea Tosano, President of Supermercati Tosano, reaffirms the company's energy plan, which strongly emphasizes renewable energy production and aims to heighten the self-production of clean energy. On the other side, Lorenzo Costantini, Iberdrola Clienti Italia's Country Manager, celebrates the increasing recognition of renewable energy sourcing as a vital move for environmental and corporate sustainability.
Iberdrola: A PPA Pioneer:
With a rich history in managing long-term power purchase agreements across various global markets, Iberdrola is recognized as a PPA leader in Europe. Their experience, coupled with a portfolio that ensures 90% of its energy sold will be generated through PPAs between 2023 and 2025, positions the group at the forefront of sustainable energy provision.
Conclusion:
Iberdrola's PPA with Tosano supermarkets marks a monumental stride in Italy's renewable energy sector and reflects a shared vision of a decarbonized future. As Iberdrola leads the PPA market and Tosano embarks on a greener path, this partnership heralds a new era of corporate environmental responsibility.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
Click to know more about Enerdatics' Renewable Energy M&A, Finance, PPA, and Projects databases.
