All energy consumed by ITP Aero in Spain will come from renewable sources

The 10-year contract signed with Axpo means that 250 GWh of 100% renewable energy will be supplied to ITP Aero’s centres in Spain, representing 35% of its annual consumption.

The remaining 65% of the company’s annual energy consumption is certified with the relevant GdOs, guaranteeing its renewable origin.

This initiative is part of ITP Aero’s efforts to reduce its CO2 emissions.

ITP Aero has signed a Power Purchase Agreement (PPA) with Axpo, a leading company in the production and marketing of renewable energy, and with the collaboration of ASE Asesores, for the supply of 250 GWh of energy exclusively from renewable sources over a period of 10 years.

The agreement consists of a physical PPA that allows long and short term hedging with an innovative combination of products with a fixed solar and wind profile and a fixed monthly volume. In practice, this means that 35% of ITP Aero’s annual energy consumption in Spain will come from renewable sources. The remaining 65% is certified with the corresponding Guarantees of Renewable Origin (GdO).

This milestone is part of ITP Aero’s ESG commitments and is part of its Net Zero strategy, which is being implemented through the “Business Ambition to 1.5 ºC” programme. By joining the programme, the company commits to reducing its CO2 emissions through science-based reduction targets, in conjunction with the Science Based Targets Initiative (SBTi).

Belén González, ESG Director at ITP Aero, said: “To meet our commitments to SBTI, we are working to shift our energy sources to others with a lower CO2 impact, generate our own energy, improve our products, promote the use of sustainable aviation fuels and research and develop alternative propulsion systems”.

Ignacio Soneira, CEO of Axpo Iberia, said: “More and more companies and industries with high electricity consumption require this type of contract in order not to jeopardise their competitiveness in the face of future price peaks and troughs. By signing this PPA, ITP Aero is guaranteed risk coverage and a competitive price to develop its business. All this without forgetting its commitment to the environment and sustainability, by opting for energy that comes exclusively from renewable sources”.