Renfe and Iberdrola sign a long-term agreement to guarantee wind energy until 2035.

Renfe has signed a long-term agreement with Iberdrola to secure the price of wind energy supplied to its passenger transport services until 2035 , for a volume of 3.7 gigawatt hours (GWh).

According to both companies, they have signed an agreement for a financial PPA , a long-term agreement that guarantees the purchase and sale of energy at a fixed price, equivalent to the production generated by 190 megawatts (MW) of wind power.

This alliance strengthens the competitiveness of onshore wind technology within the country's energy mix, while contributing to the reduction of Spain's annual CO2 emissions by more than 2 million tons.

This transaction is part of Renfe's broader energy cost hedging strategy, which will allow the company to mitigate electricity market volatility and advance its environmental sustainability goals.

Through agreements like the one reached with Iberdrola, Renfe is taking a further step in its strategy of ensuring stable prices, reducing exposure to electricity market volatility and guaranteeing the stability of its energy costs.

This agreement is part of Renfe's strategy to advance its decarbonization and sustainability goals. Thanks to the measures implemented in recent years, the company has managed to reduce its carbon footprint per unit transported by 90.4% compared to 1990, the reference year established in the Kyoto Protocol. Thus, Renfe has practically tripled the emissions reduction target set by Spain for 2030.

For its part, Iberdrola has extensive experience in PPAs. The company manages power purchase agreements in Spain, Portugal, Germany, Italy, the United Kingdom, the United States, Brazil, Mexico, and Australia for wind and photovoltaic projects.