Spanish multinational electric utility company Iberdrola has signed a 1,000 gigawatt hours (GWh) power purchase agreement (PPA) with Italian retail company Pam Panorama.
The retailer will use the solar power delivered by Iberdrola to power its Pam, Panorama, Pam Local and Pam City outlets in Italy.
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The agreement will cut annual carbon emissions by more than 38,300t – equivalent to the energy needs of 40,300 households.
Iberdrola’s expansion in Italy is increasing steadily, with an expected installed capacity of 400MW by 2025.
The company attributes this growth to the upcoming launch of its third operational plant and the development of four additional photovoltaic (PV) projects.
The Spanish electric utility has announced 15 PPAs across Europe, including an agreement to supply wind and solar energy to global tech giant Amazon in Spain, Portugal and the UK.
The company has signed agreements with Italian companies such as BTicino, Acciaierie Venete, Prima Sole Components and Bayer, amounting to approximately 50MW.
Iberdrola’s collaborations extend beyond Italy, with strategic alliances formed with companies such as Microsoft, Meta, Salzgitter, Mercedes-Benz and Vodafone.
In December 2024, Iberdrola secured a €100m green loan from the EIB, guaranteed by SACE [the Southern Alliance for Clean Energy] under the Archimede scheme, to build a photovoltaic plant in Sicily, Italy.
This marked the first EIB-Iberdrola collaboration backed by SACE. The plant, to be operational by 2025, aims to boost Italy’s renewable capacity and support European Union climate goals.
