Cemex secures renewable power for cement ops in Spain

Mexican construction materials maker Cemex SAB de CV (BMV:CEMEXCPO) has signed a ten-year power purchase agreement (PPA) to procure renewable electricity for its cement operations in Spain.

The group said last week the PPA with Spanish renewables pure-player Acciona Energia (BME:ANE) would represent enough power to enable its operations meet 30% of their consumption needs.

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The procurement is in line with Cemex's target to reduce its scope 2 emissions by having clean sources account for 55% of the power supply required by its cement factories by 2030.

Last month, the company signed a contract with Enel Green Power for the supply of renewable power to its cement operations in Guatemala.