What happened
Grifols, the Spanish pharmaceutical company, has agreed a renewable electricity purchasing arrangement with French energy company Engie. The 10-year power purchase agreement is scheduled to cover the period from 2027 to 2037.
Engie is set to supply Grifols with 40 GWh of renewable electricity each year. The power is expected to come from newly established solar and wind facilities in Spain, according to Enerji Günlüğü.
The agreement is intended to complement Grifols’ existing renewable power procurement. Once in effect, it is expected to meet 66% of the company’s electricity requirements in Spain.
For readers monitoring the transaction, the relevant implementation date is 2027, when the contracted supply is due to begin. The agreement is expected to remain in place until 2037.
Why it matters
The PPA gives Grifols a defined long-term route for sourcing part of its Spanish electricity demand from renewable generation. It is also linked to the company’s aim of using entirely renewable energy by 2030.
Its generation source is material: the electricity is planned to be supplied by new Spanish wind and solar plants, rather than being described simply as renewable procurement from an unspecified portfolio. The agreement therefore connects Grifols’ demand with new renewable generation assets in the country.
Enerji Günlüğü reports that the arrangement could help offset approximately 8,000 tonnes of carbon dioxide emissions each year. The source presents this as an expected annual contribution associated with electricity from the new facilities.
The deal also sets out the scale of renewable coverage still relevant to Grifols’ Spanish operations. At 66% of electricity demand, the expected coverage is substantial but does not represent all of the company’s electricity use in Spain.
What comes next
Engie’s annual supply obligation is due to start in 2027. Grifols will then use the contracted renewable electricity alongside its existing renewable supply as it works towards its stated 2030 objective.
