Acciona inks 1TWh Spanish PPA

Acciona Energia has signed a framework agreement with Fortia, an energy management platform for industrial consumers, for a 1 terawatt-hour annual supply of renewable electricity.

The deal represents the largest corporate renewable power purchase agreement (PPA), with physical delivery for industry, signed in Spain, Acciona Energia said.

Supply will begin between 2023 and 2024, according to the needs of the energy-intensive companies that are part of Fortia, integrated into the agreement.

The agreement has terms of between five and 10 years and comprises contracts with about 20 companies.

The supply will be covered by Acciona Energía's 100% renewable facilities operating in Spain, as part of its strategy to increase the volume of new supply contracts and PPAs in the medium and long term to corporate customers, as old assets end their regulatory useful life.

This strategy allows Acciona Energía to maintain a low-risk profile similar to that of recent years, with around 80% of the contracted production.

“With these long-term PPAs, we reaffirm Acciona Energía's commitment to the country's large industry, accompanying our customers on their way to decarbonisation through a renewable and competitive energy supply that will help them stabilise their energy supply costs in these times of enormous volatility," said Javier Montes, commercial director of Acciona Energía.

Fortia CEO Juan Temboury added: “With the signing of this agreement, Fortia contributes to the decarbonization and sustainability of Spanish industry, while maximising the security and competitiveness of its energy supply, by facilitating its access to indigenous sources of renewable energy, at a time of great uncertainty for European industry and economy."