Nike has committed to purchasing power generated from 40MW of Cavar’s total capacity over a "long-term" period, according to an Iberdrola statement. The duration of the PPA is not being disclosed.
The Cavar project has all licences in place and, in January, closed a deal with Siemens Gamesa for 32 SG 3.4-132 turbines. Iberdrola said the plant is scheduled to come online in 2020.
This is the third wind power PPA between the two companies, bringing total contracted capacity to 209MW.
The earlier two PPAs were signed in the US with Iberdrola-controlled utility Avangrid Renewables.
In 2018, Nike announced that, with the two deals, it sourced 100% of its power to renewables across North America.
The Spanish PPA will now enable "all our installations in Europe to run on green power from 2020," said Nike sustainability spokesman, Noel Kinder.
For the first time in Spain, PPAs began to break ground last year. The most significant was a 12-year PPA clinched by Engie for its 300MW Goya development, currently under construction.
However, scarcely a handful have followed.
While the sector scrambles to come to terms with PPAs as a way forward in Spain, the legal complexities make bankability difficult.
"The scarcity of large power consumers who can reliably commit to long-term contracts also remains a challenge," says sector veteran Alberto Ceña, CEO BEPTE Consultores.