Grupo Modelo and Iberdrola Announce a Renewable Power Purchase Agreement
POSTED ON: 19 October, 2017
Grupo Modelo and Iberdrola Mexico have announced that they have entered into a Renewable Power Purchase Agreement that will ensure that the long term energy needs of Grupo Modelo are met. The power will be produced at a wind farm to be developed by Iberdrola in the state of Puebla.
The wind farm will have an installed capacity of 220 MW and will provide Grupo Modelo with approximately 490 GW per year. Under this agreement, Grupo Modelo will reduce its CO2 emissions by approximately 225,000 metric tons per year, which is the equivalent of withdrawing more than 90,000 vehicles from circulation every year. The deal will also see the country’s wind power capacity increase by almost 5%.
The wind farm is scheduled for commissioning in the first quarter of 2019. Iberdrola will take all actions necessary to obtain the permits and authorizations required as a power supplier, and follow the self-supply plan guidelines established by Mexican law.
“It is with great pride that we announce this agreement with Iberdrola Mexico, which will enable Grupo Modelo to reduce our carbon footprint and move forward in meeting the sustainability goals which we set as part of our Better World program,” said Grupo Modelo CEO Mauricio Leyva. “These initiatives help tackle climate change while also improving the efficiency throughout our operations and our entire value chain.”
Iberdrola Mexico CEO Enrique Alba said that both companies are industry leaders in sustainable development and tackling climate change. He added that, over the last 19 years, “Iberdrola has established itself as the country’s largest utility and one of the top investors in the sector.” The agreement marks the beginning of AB InBev’s global commitment to transition to renewable energy aimed at ensuring that the company obtains 100% of its power from renewable sources by 2025. The deal also ensures that Grupo Modelo and Iberdrola Mexico deliver on their commitment to protect the environment and promote sustainable practices to create a cleaner world.
The database of Corporate PPA deals. Details about corporates, that buy green energy, renewable energy projects, it's owners and developers.'