February 6 (Renewables Now) – Spain’s Iberdrola (BME:IBE) and Nike (NYSE:NKE) have signed their third power purchase agreement (PPA) and the first one that will cover the US sporting brand’s facilities in Europe, the utility announced Wednesday.
Under the new PPA, Nike will receive a supply of 40 MW of electricity from the Cavar wind farm complex in Navarre, northern Spain. The 111-MW project, which Iberdrola will begin building soon, is due to be completed in 2020.
In the US, Nike’s previous PPAs with Iberdrola’s US subsidiary Avangrid Renewables (NYSE:AGR) include 100 MW of electricity supplied from the Karankawa wind farm in Texas and 69 MW from the Leaning Juniper and Juniper Canyon wind facilities.
“In 2018, we announced that we had contracted for 100% renewable energy in North America, and this latest agreement means we will be operating on 100% renewable energy across Europe by 2020," Nike Chief Sustainability Officer Noel Kinder said.