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June 9, 2020

Telefónica signs 100GWh power purchase agreement with ACCIONA

Spanish multinational telecommunications company Telefónica has signed a power purchase agreement with renewable firm ACCIONA.

Spanish multinational telecommunications company Telefónica has signed a power purchase agreement (PPA) with renewable firm ACCIONA.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
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  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
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As per the terms of the agreement, ACCIONA will supply 100GWh of renewable energy for ten years to Telefónica’s data processing facilities, offices and work centres in Spain.

Telefónica Spain CEO Emilio Gayo said: “The progress in our economy and society depends on firm climate action. At Telefónica, we have established a strategic commitment to mitigating climate change and we are decisively fulfilling it.

“We need a balanced energy mix, but our ultimate goal must be a transition that leads to complete decarbonisation.”

The PPA with ACCIONA is said to be the first long-term clean energy supply deal for Telefónica in the country.

Renewable energy supplied by ACCIONA to the telecom company will have 100% renewable origin accreditation and certified by Spain’s National Commission of Markets and Competition (CNMC).

By making use of clean energy, Telefónica is expected to offset 26,000 tonnes of carbon emissions, reinforcing its decarbonization strategy.

Additionally, the company will have direct access to ACCIONA’S Greenchain traceability application. This blockchain technology-based application guarantees the energy’s renewable origin in real-time.

The agreement will be effective from July this year.

ACCIONA intends to further expand its portfolio of 5,700MW renewable assets in Spain with new installations to guarantee Telefonica’s energy supply.

ACCIONA Energy CEO Rafael Mateo said: “This is a pivotal agreement in Spain, where renewable PPAs have yet to emerge as an instrument of cost efficiency and clean energy supply.

“We are very pleased that Telefónica has chosen ACCIONA as a partner to make headway with its decarbonisation commitments.”

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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