Endesa and Verbund Green Power Iberia Forge Long-Term Renewable Energy Pact to Boost Decarbonization

Endesa and Verbund Green Power Iberia Forge Long-Term Renewable Energy Pact to Boost Decarbonization

(IN BRIEF) Endesa has signed a long-term Power Purchase Agreement with Verbund Green Power Iberia, the Spanish subsidiary of Verbund, to receive renewable energy from a wind farm in Huelva that has been operational since 2023. This agreement is a key element in both companies’ sustainability and decarbonization strategies. Endesa, which has secured nearly 3 TWh per year through similar PPAs with wind and photovoltaic projects, uses these contracts to stabilize electricity prices and boost renewable energy growth. Verbund Green Power Iberia, managing over 1 TWh of production in 2024, employs PPAs and other tailored products to optimize its revenue and reduce market price risks. These energy agreements are central to Verbund’s broader Mission V strategy, which aims to have 25% of its power generation coming from solar and wind by 2030.

(PRESS RELEASE) MADRID, 3-Apr-2025 — /EuropaWire/ — Endesa has entered into a long-term Power Purchase Agreement (PPA) with Verbund Green Power Iberia, the Spanish arm of the Austrian group Verbund, to secure renewable energy from a wind farm in the Huelva province that has been operational since 2023. This strategic agreement underscores both companies’ dedication to sustainability and advances their decarbonization goals. In recent years, Endesa has signed multiple PPAs with wind and solar energy developers, securing nearly 3 TWh per year under these agreements. These contracts not only contribute to stabilizing electricity prices but also support the expansion of renewable energy sources.

PPAs are instrumental in mitigating price volatility and ensuring a steady supply of renewable energy, thereby covering a portion of the energy needs for large customers as well as the companies’ own consumption at competitive, stable prices. In Spain, Verbund Green Power Iberia optimizes its operations by managing its facilities through long-term PPAs and other flexible product structures, achieving over 1 TWh of total production in 2024. For Verbund, such energy agreements are central to its business strategy across different markets. Under its Mission V strategy, the multinational company plans to generate 25% of its total power from solar and wind sources by 2030.

About Endesa

Endesa is the leading electric company in Spain and the second largest in Portugal. It is also ranked as the second largest gas operator in the Spanish market. Endesa operates an integrated business model spanning electricity generation, distribution, and retail. Furthermore, the company offers value-added services focused on the electrification of energy use for households, businesses, and public administrations. Endesa is committed to the United Nations’ Sustainable Development Goals (SDGs) and corporate social responsibility. In the latter area, it also works through the Endesa Foundation. Our team comprises around 9,000 employees. Endesa is part of Enel Group, the largest European utility by ordinary EBITDA[1].

[1] Enel’s leadership in the different categories is defined by comparison with competitors’ FY2023 data. Fully state-owned operators are not included.

About Verbund

Verbund is Austria’s leading energy company and one of Europe’s largest producers of renewable energy. The Group generates around 98% of its electricity from renewable energies.

Verbund Green Power Iberia, Spanish subsidiary of the Verbund Group, is a producer of renewable electricity in Spain, mainly wind and solar photovoltaic power. The company currently has a total of 710 MW in operation, as well as some 40 MW under construction. The portfolio of projects at an advanced stage of development totals 2 GW.

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email: prensa@endesa.es

SOURCE: Endesa