Iberdrola inks offshore wind PPA with cement giant Holcim

Spanish utility Iberdrola has signed a power purchase agreement (PPA) with Swiss construction major Holcim with the two companies planning to deepen cooperation and promote sustainable operations. 

Holcim has agreed to purchase 250GWh/year from Iberdrola’s 476MW Baltic Eagle offshore wind farm, which is currently under construction off Rügen island in northern Germany. 

The construction company aims to decarbonise its operations in Germany with a target of powering 80% of its activities in the country with renewables by 2030. 

Iberdrola said the pair will also explore the possibility of powering other Holcim plants across Germany through additional PPAs, and the potential to build renewable infrastructure at Holcim sites directly. 

Cement production accounts for around 7% of global annual carbon emissions according to a 2021 scientific study on its impact, and is seen as a key target in global decarbonisation efforts. 

The Holcim deal is the latest in a series of PPAs Iberdrola has secured for Baltic Eagle, with technology giant Amazon and steelmaker Salzgitter also due to buy output from the wind farm.

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