Spanish industrial cos to buy green power from Acciona Energia via Fortia

Spanish renewables company Acciona Energia (BME:ANE) announced today that it will be selling 1 TWh of physical renewable power per year to Fortia Energia so that it can supply this volume to its electro-intensive corporate customers.

Fortia manages the power supply of large industrial companies. Under the framework agreement, the firm will provide the clean energy it receives to 20 of its clients in the Spanish market for periods of five to 10 years.

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According to Acciona Energia, this is the largest corporate renewable power purchase agreement (PPA) with physical delivery for the Spanish industry. Power supply is expected to start between 2023 and 2024, depending on the needs of the customers.

Acciona Energia just recently closed a ten-year PPA with Mexican construction materials maker Cemex SAB de CV (BMV:CEMEXCPO) for the latter's cement operations in Spain.