Click the icon to add a specified price to your Dashboard list. This makes it easy to keep track on the prices that matter most to you.
Both companies have signed a 12-year virtual power purchase agreement that utilizes Repsol's wind and solar asset capacity, including its first hybrid projects in Spain.
Grupo Bimbo will cover 100% of its electricity consumption in southern Europe through this agreement.
Repsol has signed a long-term agreement with Grupo Bimbo to supply it with renewable energy, allowing the world's largest bakery company to advance its decarbonization goals in Europe.
Through nine 12-year virtual power purchase agreements (VPPAs), Grupo Bimbo will obtain renewable electricity equivalent to 100% of its annual consumption in Spain, Portugal, France and Italy (approximately 150 GWh per year).
The agreement is linked to Repsol's wind and solar assets in Spain, including its first hybrid solar projects, optimizing the use of existing resources and improving the efficiency of renewable energy generation.
Grupo Bimbo is reinforcing its commitment to renewable energy and the decarbonization of its European operations, covering 18 production centers in the region, by going beyond the purchase of Guarantees of Origin and moving towards long-term agreements with renewable assets. Schneider Electric advised on the transaction.
“The agreement with Grupo Bimbo allows us to strengthen our renewable portfolio and, at the same time, meet the long-term needs of large energy consumers,” said João Costeira, General Manager of Low Carbon Generation at Repsol.
“This long-term agreement represents a decisive step in Grupo Bimbo’s decarbonization roadmap in Europe. By securing renewable electricity at scale—equivalent to 100% of our consumption in Spain, Portugal, France, and Italy—we are supporting wind and solar power capacity, while also translating our commitment to achieving net-zero carbon emissions by 2050 into tangible actions and strengthening the sustainability and resilience of our operations,” stated Baptiste Leroux, Vice President of Purchasing for Grupo Bimbo EMEA.
About Repsol
Repsol is an energy company that provides solutions for all its customers' energy needs in mobility, home, and business. It employs 24,000 people in more than twenty countries and has 24 million customers.
It produces an average of 548,000 barrels of oil and gas equivalent per day and has one of the most efficient and advanced refining systems in Europe, designed to transform oil and alternative raw materials into fuels and other products essential to society. Furthermore, it is transforming its six industrial complexes in Spain and Portugal into multi-energy centers, capable of processing a wide variety of raw materials and manufacturing low-carbon products.
Its extensive network of 4,400 service stations supplies fuel in Spain, Portugal, Peru, and Mexico, and is incorporating alternatives such as electric vehicle charging, 100% renewable fuels, Autogas, and natural gas for vehicles. It has 3.3 million electricity and gas customers on the Iberian Peninsula and boasts a diversified renewable generation portfolio with an installed capacity of over 6,000 MW, primarily in Spain and the United States.
About Grupo Bimbo
Grupo Bimbo is the world's leading and largest baking company, as well as a significant player in the snack market. It operates in 96 countries worldwide, directly in 39 and serving another 57 through strategic alliances. Its operations span the Americas, Europe, Asia, and Africa, with 250 bakeries and plants and more than 1,600 sales centers.
With sales exceeding US$22 billion, the company boasts a diverse product portfolio, whose main categories include sliced and artisan bread, buns and rolls, pastries, cakes, biscuits, rusks, English muffins, bagels, tortillas and flatbreads, as well as savory snacks, among others.
Grupo Bimbo has one of the world's largest direct distribution networks, with more than 55,000 routes and over 152,000 employees. Its shares are traded on the Mexican Stock Exchange (BMV) under the ticker symbol BIMBO, and are also traded in the U.S. over-the-counter market through a Level 1 ADR under the ticker symbol BMBOY.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
