Iberdrola Signs PPA to Supply 1,000 GWh to Pam Panorama

In a major move towards embracing corporate sustainability and the uptake of renewable energy, Iberdrola has entered into a long-term power purchase agreement (PPA) with Pam Panorama, a top retail giant in Italy. Through the agreement, Iberdrola will provide 1,000 GWh of solar energy to energize Pam Panorama's supermarket chain, which comprises Pam, Panorama, Pam Local, and Pam City outlets. The pact highlights the growing role of PPAs in financing industrial electrification while also providing firms with a reliable and affordable green energy source.

The deal is expected to yield significant environmental impact, reducing carbon dioxide emissions by 38,300 tonnes or the equivalent energy consumption of 40,300 homes. This is in keeping with Pam Panorama's larger sustainability objectives, enabling the firm to decarbonize its activities while retaining its competitiveness in the retail industry. For Iberdrola, the deal further solidifies its position as Europe's number one corporate PPA provider with 1,251 MW worth of contracted agreements—up by 38% from 2023.

One of Italy's leading retailers, Pam Panorama, has been aggressively seeking ways to make its business more energy-efficient and less carbon-intensive. By agreeing a long-term renewable power supply, the retailer not only reduces its vulnerability to unpredictable energy prices, but also shows its support for a cleaner, greener future. The action is part of a wider trend in which companies are using PPAs to guarantee stable energy pricing while facilitating the shift toward green power.

Iberdrola pointed out that PPAs are a key instrument in the drive for industrial electrification, offering businesses long-term price certainty and lowering their reliance on fossil fuels. With energy prices varying and environmental regulations becoming stricter, locking in renewable energy through PPAs has emerged as a strategic imperative for companies seeking to gain both economic and environmental advantages.

Aside from this recent deal, Iberdrola has been growing its renewable presence in Italy. By 2025, the corporation aims to see 400 MW of installed capacity in the country, fueled by new solar farms that will start operations. It is all in Iberdrola's overall European expansion strategy, wherein it has successfully negotiated PPAs with large corporations like Amazon, BTicino, Bayer, and Acciaierie Venete. These deals reflect the growing need for renewable energy products among multinational corporations that are trying to achieve their sustainability goals.

The corporate renewable energy buying trend is not unique to Italy. Around the world, tech and industrial behemoths like Microsoft, Meta, Mercedes-Benz, and Vodafone have all entered into long-term renewable energy contracts with Iberdrola, echoing the general movement towards cleaner sources of energy among the corporate community. The agreements benefit not only companies by enabling them to decrease their footprint but also help to stabilize and grow the renewable energy market.

As Europe's top PPA supplier, Iberdrola is leading the charge of corporate electrification, assisting companies in making the leap towards cleaner energy options. Through large-scale renewable energy agreements, the company is helping to be a backstop for energy stability and driving decarbonization initiatives across sectors. With sustainability emerging as a core business imperative, such collaborations as between Iberdrola and Pam Panorama showcase the increasing relevance of renewable power in informing the future of corporate energy policy.

This new PPA is another milestone in Iberdrola's drive to promote the growth of renewable energy use in Europe. As businesses become increasingly aware of the economic and environmental benefits of locking in long-term green power contracts, the use of PPAs in reaching corporate sustainability objectives is set to increase. With its growing renewable energy capacity and robust portfolio of corporate partnerships, Iberdrola continues to lead the way in this shift, further cementing its position as a leader in the renewable energy sector.