Wednesday 19 February 2020

ENGIE signs renewable PPA to supply industrial consumers in Spain

ENGIE has signed a power purchase agreement (PPA) for the supply of renewable energy to industrial consumers in Spain.

The French utility will provide more than 400GWh of electricity a year to FORTIA, a company that manages the supply of energy for large industrial corporations in sectors such as steel, cement, metallurgy and paper.

The energy will be obtained either from ENGIE’s renewable portfolio in the Iberian Peninsula or from its energy management operations within the South of Europe.

FORTIA has been operating on the wholesale markets for 12 years and is the largest independent marketer of the Iberian Electricity Market, with a sales volume of around 9TWh.

Blanca Losada, President of FORTIA said: “With the signature of this agreement, FORTIA contributes to a more sustainable industrial and energy model by promoting the development of renewable energy sources, while facilitating its customers access to a menu of contracts of various types of prices and terms for a more competitive long term supply.

“The energy transition offers, especially on the Iberian market, really interesting wholesale opportunities that only an aggregator platform such as FORTIA can make available to large corporations in a way tailored to their needs, thus forming innovative and solvent solutions for their energy supply.”

Loreto Ordonez, CEO of ENGIE in Spain added: “This contract makes the industrial model of the energy transition towards lower carbon economies a reality. It allows us to innovate in energy sustainability, by adapting our products to the expectations of FORTIA. ENGIE demonstrates, once again, its priority for developing solutions responding to the specific demands of its customers.”