Saint-Gobain agrees 11-year green PPA with Spain's Endesa

• French structure materials manufacturer Compagnie de Saint-Gobain SA (EPA: SGO) will off-take renewable power for its Spanish operations under an 11-year power purchase agreement (PPA) with regional utility Endesa SA (BME: ELE).

Under the arrangement, Saint-Gobain will acquire 150 GWh of power per year from Endesa's wind, solar and hydroelectric facilities. Materials result from start in 2024, covering around 55% of the French firm's power needs in Spain, it claimed on Thursday.

The acquired power volume amounts to the yearly power need of some 43,000 Spanish homes. It will assist Saint-Gobain minimize its carbon dioxide (CO2) emissions by about 39,000 tonnes each year.

The power off-take bargain supports Saint-Gobain's initiatives to reach carbon nonpartisanship by 2050. It comes on the heelс of an earlier renewable power purchase plan in Spain, a deal with Germany's Tion Renewables AG for power from a 52-MW wind portfolio in Poland and also a 200-MW solar PPA with French power major TotalEnergies SE (EPA: TTE) in the US and Canada. These offers have brought the team's share of sustainable electrical energy to more than 60%, it kept in mind.