March 5 (Renewables Now) - Spanish utility Endesa SA (BME:ELE) announced on Wednesday it signed a contract to supply more than 80 GWh per year of renewable energy to fashion retail giant Tendam.
Under the terms of the deal, Endesa will supply enough clean electricity during 2020 for Tendam to cover the demand of almost 800 stores in the Iberian country, as well as the group's Spanish operating facilities. The fashion retailer encompasses the brands Cortefiel, Pedro del Hierro, Springfield, Women’secret and Fifty.
The electricity will be coming with Guarantees of Origin (GdOs) issued by the National Commission on Markets and Competition (CNMC) and will help Tendam to avoid over 30,000 tonnes of carbon dioxide (CO2) emissions during the year the contract is valid, Endesa noted.
Recently, Endesa reported a 3% increase in ordinary net profit for 2019 to EUR 1.56 billion (USD 1.7bn) due to its activities in the liberalised market.
(EUR 1 = USD 1.088)