Power Purchase Agreement Signed for Baltic Eagle Offshore Wind Farm

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Iberdrola, a Spanish energy company, has recently signed a power purchase agreement (PPA) with Holcim, a Switzerland-headquartered company, to supply renewable energy generated at the Baltic Eagle offshore wind farm.

The Baltic Eagle project is currently being constructed in the German Baltic Sea. It will provide Holcim with 250 GWh of clean energy per year. Thus, it will support Holcim’s efforts to accelerate its net-zero journey in Germany. Holcim aims to increase the use of renewable energy in its operations to over 80% by 2030.

The Baltic Eagle offshore wind farm is progressing, with the first monopiles installed at the construction site. With a planned capacity of 476 MW, it is expected to generate enough renewable energy to power approximately 475,000 homes while reducing CO2 emissions by around 800,000 tonnes annually. The project is set to be completed by 2024.

This is not the first power purchase agreement secured by Iberdrola for the Baltic Eagle project. In March, the company signed a PPA with Amazon. A month later, another agreement was reached with Salzgitter Flachstahl, a subsidiary of the Salzgitter Group.

These partnerships highlight the growing interest in renewable energy and the importance of collaboration in achieving sustainability goals.

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The Baltic Eagle offshore wind farm to accelerate Holcim’s net-zero journey and explore further sustainability projects

In addition to the PPA, Iberdrola and Holcim have established a working group to explore a range of sustainability projects in Europe and potentially other regions. These initiatives include further PPAs to decarbonise operations, the evaluation of suitable locations for on-site renewable facilities, such as solar photovoltaic (PV) installations and green hydrogen projects, and the analysis of opportunities to increase the electrification of existing industrial processes and promote electric mobility solutions.

Aitor Moso, Director of Iberdrola’s Retail Business, expressed enthusiasm about the partnership and its potential to drive immediate benefits for Holcim and the intention to expand the collaboration in the future. The companies are committed to leveraging clean energy from offshore wind. This will help support Holcim’s operations while actively exploring additional sustainable projects that align with their shared vision.

The agreement between Iberdrola and Holcim underscores the growing importance of renewable energy in the transition to a sustainable future. By joining forces and leveraging the Baltic Eagle offshore wind farm, the companies aim to reduce greenhouse gas emissions. Thus, it will enhance operational sustainability and pave the way for a greener energy landscape.