Iberdrola and the Italian steel giant Acciaierie Venete have signed a green electricity power purchase agreement (PPA) for a capacity of 12 MW.

The alliance involves the supply of green energy from one of Iberdrola’s photovoltaic plants, currently under construction, for a total of 230 GWh throughout the duration of the contract.

The supplied energy will help reduce annual CO₂ emissions by approximately 6,960 tonnes. This is equivalent to the CO₂ absorption of around 64,000 trees and will cover the energy needs of around 5,800 homes.

Iberdrola has a long track record in managing PPAs in various markets, including Spain, Portugal, the UK, Germany, the US, Mexico, Brazil, and Australia, supported by wind and solar renewable projects.

In fact, Iberdrola is one of the leading European players in the PPA market, with nearly 1,000 MW signed in 2023, according to consultancy Pexapark. Last year, Iberdrola secured PPAs with strategic clients such as Amazon, TMD, Vodafone, Dillinger, Holcim, and Salzgitter Group. Between January and September 2024 alone, it signed long-term contracts for five million MWh per year.

The company, chaired by Ignacio Galán, also maintains partnerships through PPAs with companies such as Amazon, Meta, Google, Telefónica, Mercadona, Holcim, Heineken, AB InBev, Apple, VW-SEAT, Mercedes Benz, Burger King, Bayer, and Renault, among others.

In Italy, Iberdrola is investing in industrial decarbonisation solutions and renewable energy for the country’s ecological transition and energy security. With a portfolio of nearly 150 projects in the country, Iberdrola will reach 400 MW of installed capacity by 2025, contributing to the sustainability and decarbonisation objectives of the Italian industrial sector.

Acciaierie Venete is one of Europe’s leading steel manufacturers, with an integrated supply chain that ranges from direct management of raw materials to manufacturing and distribution. The group has a production capacity of two million tonnes of steel annually, produced at plants in Padua, Sarezzo, and Borgo Valsugana.