Iberdrola inks solar PPA with Portugal’s Gres Panaria
Image courtesy Iberdrola
Iberdrola and Portuguese ceramics company Gres Panaria Portugal have signed a 10-year solar power purchase agreement (PPA).
The contract will see 92GWh of clean power delivered to Gres Panaria, which will help reduce the company’s carbon footprint and ensure a stable energy supply.
It will also mitigate the risks associated with volatile energy markets, ensuring more stability in terms of cost of electricity, as well as in the production and service to customers.
Marco Mussini, chairman of the board of directors of Gres Panaria Portugal, commented in a statement: “This agreement reinforces our mission to produce sustainably, maintaining the highest quality standards, and at the same time reducing the environmental impact of our operation, through the redesign and optimisation of industrial processes and products, of our brands, that are more sustainable and properly integrated into the green economy in Portugal.”
By using a photovoltaic solar energy source, Gres Panaria Portugal will contribute to meeting its sustainability goals, as well as support Portugal in reaching its climate goals.
Rui Afonso, managing director of Iberdrola Clientes Portugal, added: “We are active agents in the decarbonisation of industry. It is part of our corporate goals. This PPA with Gres Panaria Portugal reflects our commitment to sustainable development and the promotion of renewable energy, especially in a prominent sector for Portugal such as ceramics.”
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As of January 2024, Portugal ranked 7th in countries with the highest share of renewable sources used to produce energy in Europe. This is thanks to the country’s renewable energy incentive mechanism and the adoption of ambitious climate targets.
The Portuguese government’s new energy plan includes providing 80% of the country’s power demand from renewables by 2030 and 100% by 2050.
Portugal launched its innaugural solar auctions in 2019, which awarded 1,400MW at an average tariff of 20.4 euros per MWh. The second auction to award 700MW was held on August 24 and 25, 2020.
In 2022, Portugal’s first floating solar auction closed with a world record low-price, and EDP, among the winning bids, installed floating solar panels at the Alqueva dam.
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Portugal’s floating PV tender was projected to produce 262MW of capacity at seven dams throughout the country.
At the end of 2022, solar power had a total installed capacity of 2591MW, which represented an increase of more than 45% from the previous year in 2021. Further electricity generation from solar sources reached 2.54TWh in 2022, according to Mordor Intelligence.
Learn more about the Alqueva dam project, a unique hybrid power plant that combines floating solar energy production with hydropower production.
