PepsiCo to procure power from 590MW Iberdrola solar plant in Spain

The power purchase agreement will supply renewable energy to PepsiCo’s facilities in Spain and Portugal. Image: Iberdrola.

Iberdrola has signed a power purchase agreement (PPA) to sell electricity from its 590MW solar plant in Spain to food and drink giant PepsiCo.

Under the agreement PepsiCo will guarantee the supply of 100% of renewable electricity for 11 production plants, offices and logistics centres in Spain and Portugal starting from 1 January 2023.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

This is not the first PPA the utility has secured for the solar plant when it signed a PPA with Danone in 2021 which would also provide 100% of renewable electricity to the French food company’s facilities in Spain.

The Francisco Pizarro plant is set to be operational soon and will become the largest solar PV plant in Europe, according to the Spanish utility. It currently has more than 2.2GW of solar power installed in Spain.

Moreover, it will surpass the installed capacity of its current largest plant in Spain the 500MW Núñez de Balboa, for which it has been ordered by a Spanish court to return part of the land of the solar plant.

Sergio Hernández de Deza, director of large customers and industrial solutions at Iberdrola, said: “Long-term green power purchase agreements open up many opportunities for the development of renewable projects that allow us to accelerate the energy transition to reduce dependence on fossil fuels.”

Iberdrola continues its investments in renewable energy, electricity grids and energy storage with plans to invest up to €150 billion (US$150.58 billion) by 2030 as it recorded a 20% year-on-year increase in its profits in 2021 with 3.5GW of renewables installed last year.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 28, 2024
Seattle, USA
Solar Media Events, Industry Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA