Spanish automotive components manufacturer Gestamp has announced the signing of a 10-year renewable power purchase agreement with Spanish energy producer Iberdrola to supply electricity to Gestamp's manufacturing facilities across Europe.
Under the agreement, Iberdrola will supply 660,000 MWh of 100 percent renewable energy, supporting Gestamp's activities in the automotive sector components.
Renewable energy sources based on wind and solar
The agreement covers 34 MW of installed capacity, with electricity generated from 80 percent wind energy and 20 percent solar energy. This will enable Gestamp's European plants to operate using 100% renewable electricity.
According to the statement, the agreement allows Gestamp to provide long-term renewable energy at a fixed and competitive price, improving visibility into future energy costs. This is consistent with the company's strategy to enhance operational stability in volatile energy markets.
Supporting decarbonization of the automotive supply chain
The partnership is part of Gestamp's broader efforts to reduce emissions and improve sustainability across its operations.
The companies said the agreement supports:
- electrification of production facilities processes,
- increasing energy efficiency,
- using renewable energy sources in production.
This step is expected to contribute to decarbonization
