French utility ENGIE has signed a power purchase agreement (PPA) to provide renewable energy to industrial customers in Spain.
It will supply more than 400GWh of electricity annually to FORTIA, a company that manages the supply of energy for large industrial corporations in sectors such as steel, cement, metallurgy and paper, through its energy management platform.
ENGIE will provide the power either from its renewable portfolio in the Iberian Peninsula or from its energy management operations within the South of Europe for a period of 11 years.
FORTIA has been operating on the wholesale markets for 12 years and is the largest independent marketer of the Iberian Electricity Market, with a sales volume of around 9TWh.
Blanca Losada, President of FORTIA said: “With the signature of this agreement, FORTIA contributes to a more sustainable industrial and energy model by promoting the development of renewable energy sources, while facilitating its customers access to a menu of contracts of various types of prices and terms for a more competitive long term supply.
“The energy transition offers, especially on the Iberian market, really interesting wholesale opportunities that only an aggregator platform such as FORTIA can make available to large corporations in a way tailored to their needs, thus forming innovative and solvent solutions for their energy supply.”