EGP and BBVA, signed a PPA for the construction of a new wind farm that will power the bank's offices
Enel Green Power Spain, the renewables division of Endesa, has signed a PPA with the multinational banking group BBVA for the construction of a new wind farm that will power the bank’s Spanish locations.
In two years, a new aeolian plant powered by the strength of the wind will ensure the provision of renewable energy to the Spanish locations and offices of BBVA.
The banking group and Enel Green Power Spain, the renewables division of Endesa, have signed a Power Purchase Agreement (PPA) that calls for the construction of an 80-GWh wind farm by 2020.
Once the works for the plant are finished, EGP will provide BBVA with 30% of its electrical consumption through the new wind farm and 70% through green certificates.
“For Endesa, the agreement kicks off a new, highly innovative service model, able to offer energy at competitive prices for the customer while respecting social and environmental commitments. This system represents a new way to promote the growth of renewable energy, as part of the decarbonization of the economy that Endesa is fully involved in.”
– Javier Uriarte, Chief marketing officer di Endesa
Our 100% green energy commitment to Sustainable Development
BBVA recently joined RE100, an initiative that involves large companies on the planet that are committed to using 100% energy produced by renewable sources for their business. The bank also aims to reduce, by 2025, 68% of CO2 emissions generated, about 90,000 tonnes.
“With this new project, we are helping to increase the installed capacity of renewable energy in Spain, a key step to reaching ambitious climate goals.”
– Ricardo Forcano, Global Head of Talent and Culture BBVA
Today, BBVA in Spain consumes about 237 GWh of energy, completely provided by Endesa and equal to the needs of about 67,500 households. The bank purchases energy from Endesa at a fixed price through green certificates.
Thanks to the new PPA, Endesa and BBVA, in addition to committing even more to the path to sustainability, obtain economic benefits, thanks to the lower cost of energy.
EGP was the first utility in the world to sign PPAs with main financial institutions: in 2013, we signed our first Power Purchase Agreement in Mexico with an affiliate of the international bank Citi Group (Banamex). Since then, many important financial groups, including HSBC, have chosen our renewable energy. BBVA in Mexico has been one of our customers since 2016, and now we are pleased to power the business of its Spanish counterpart, thanks to the construction of a new wind farm in the country.