Spanish utility group Iberdrola SA (BME:IBE) and cash and carry chain MAKRO have signed a power purchase agreement (PPA) covering the supply of 6 MW of solar energy.
The deal will see Iberdrola supply the electricity generated by on-site self-consumption solar photovoltaic (PV) arrays located on rooftops of ten MAKRO stores across Spain. The PPA will run for 15 years, Iberdrola said on Friday.
Covering an area of more than 30,000 sq m, the contracted solar capacity will allow MAKRO to offset around 3,500 tonnes of carbon dioxide (CO2) annually. This agreement also helps the firm to achieve its Sustainable Development Goals (SDGs).
MAKRO has managed to reduce its energy consumption by 33% from 2008, hitting 74.27 GWh in 2019.
The companies are considering the possibility of extending this collaboration to MAKRO's other stores in the Iberian Peninsula, Iberdrola noted.