A&O Shearman and Cuatrecasas advise on Acciona’s PPA with Vidrala

A&O Shearman and Cuatrecasas have advised on the signing of a PPA between Acciona Energía and Vidrala to supply renewable energy to its plants in Spain and Portugal.

Acciona Energy has signed a power purchase agreement (PPA) with Vidrala, a leading designer and manufacturer of glass containers, for the supply of renewable energy that will cover between 20% and 25% of the company’s electricity needs over the next 10 years.

The contract will come into force in January 2025 and will enable Vidrala to supply clean electricity for its operations in several manufacturing plants in Llodio (Álava), Caudete (Albacete), Castellar del Vallés (Barcelona) and Marinha Grande (Portugal). All energy will be of 100% renewable origin from Acciona Energía’s wind farms.

PPAs such as this one are part of Acciona Energía’s commercial strategy to increase medium- to long-term contracts in Spain to maintain around 80% of the contracted volume compared to the rest in the wholesale market.

This is the first PPA that Vidrala has included in its decarbonization strategy to reduce emissions and, thanks to it, it will avoid the emission of 150,000 tons of CO2 into the atmosphere during the term of the contract. Together with the self-consumption projects and the Guarantees of Origin (GOs), the PPAs make up the company’s plans to decarbonize 100% of its electricity consumption by 2030. In this way, Vidrala strengthens its position as a leader in industrial sustainability, while guaranteeing a cleaner, more diversified, secure and competitive energy supply.

A&O Shearman team was formed by Vanessa Cuellas and Emilio Martínez Jiménez.

Cuatrecasas advised Vidrala with a team led by Alejandro Bonitch, a partner in the Regulated Sectors practice, assisted by Jaime Juan Rodríguez Lozano, a lawyer in the Capital Markets practice.