Iberdrola to supply renewable power to Vodafone in Germany, Iberia

Spanish utility Iberdrola SA (BME:IBE) will provide renewable electricity to Vodafone (LON:VOD) in Germany, Portugal and Spain under three power purchase agreements (PPAs), announced today.

The UK-based telecoms operator will receive a total of 410 GWh of solar power per year under the three deals. Vodafone Portugal will be supplied by the newly built Velilla photovoltaic (PV) plant in Palencia, Spain, while Vodafone Spain will get 280 GWh a year from the Cedillo PV project in Caceres, Spain. The German PPA, which was signed last week, will see Vodafone Germany provided with the entire output of Iberdrola’s first solar project in the country, the 56-MWp Boldekow site in the state of Mecklenburg-Western Pomerania, which expected to be fully online by 2024.

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With offtake contracts in place, Iberdrola said it will speed up construction and commissioning of the projects.

“Agreements with progressive businesses like Vodafone are increasingly important in allowing new renewables projects to be built, and we now look forward to accelerating the delivery of these solar PV plants,” commented Iberdrola’s global clients director Aitor Moso.

“These agreements across Europe underline Vodafone’s commitment to ensure our customers will continue to benefit from electricity purchased 100% from renewable sources. They also provide Vodafone with improved energy security and long-term price certainty as we work towards achieving net-zero in our operations by 2030,” said Joakim Reiter, Vodafone Group chief external and corporate affairs officer.

The two companies will also look at other PPA opportunities and sustainability projects in Europe.