Gestamp and Iberdrola sign 10-year PPA for 660,000 MWh of clean energy in Europe
Gestamp, an automotive components manufacturer, has signed a 10-year power purchase agreement with Iberdrola for 660,000 MWh of renewable electricity across its European plants.
- 10 years
- 34 MW
- 660,000 MWh
What Happened
The agreement covers 34 MW of installed capacity, with 80% wind and 20% solar power, backed by guarantees of origin. This enables Gestamp to lock in a competitive, fixed electricity price and continue its progress toward using 100% renewable energy across its global operations.
660,000MWh
Over 10 years to Gestamp's European plants
“This agreement marks a very important milestone for the company, as it represents a further step in our efforts to implement more sustainable production processes that prioritise electrification, energy efficiency and the use of renewable sources.”
Why this matters
This deal helps Gestamp secure long-term, fixed-price renewable energy, reducing its carbon footprint and supporting the decarbonization of the automotive supply chain.
Terms in This Story
- PPA
- Power Purchase Agreement – a long-term contract to buy electricity at a fixed price, often from renewable sources.
- Guarantees of origin
- Certificates that prove electricity was generated from renewable sources.
Summarised from the linked release; details can be imperfect — always verify against the original source.