EDP to Supply Renewable Energy to NOS
Two of Spains largest national groups have signed an agreement that will increase the production of renewable energy in the Iberian Peninsula,
Two of Spains largest national groups have signed an agreement that will increase the production of renewable energy in the Iberian Peninsula, contributing to the national and European decarbonization targets. A contract worth more than EUR 32 million allows NOS to take a decisive step in its energy transition. EDP was chosen by NOS as a long-term partner for renewable energy and its sustainability path. The telecommunications company has just concluded a contract with EDP Comercial for the supply of energy for more than ten years, becoming one of the largest and longest electricity supply contracts the company has ever established. This contract, worth more than EUR 32 million, will be linked to a wind farm that EDP Renováveis is developing in Spain and which will provide energy to the Iberian electricity market.
The companies celebrated a Power Purchase Agreement, which contributes to the production of renewable energy and the delivery of energy to NOS, representing a significant part of their needs - about 62GWh per year, equivalent to the annual consumption of more than 27 thousand homes. This agreement also means stable energy prices for NOS between 2023 and 2033, thus allowing savings in the electricity bill of about 20%.
Through solutions such as PPA, EDP Comercial promotes the production and consumption of renewable energy in large business customers, also giving them transparency into the cost of their energy in the long term and significantly reducing their bill. In Portugal, EDP Comercial had already established an 18-year contract with AAPICO (former Sakhti), a foundry that supplies some of the largest car brands.
The PPA also allows a renewable energy producer increased predictability on their investment and return when they decide to develop new projects, which makes it possible to accelerate the growth of renewable production, critical to meeting European decarbonization targets and fighting climate change. With this partnership, it will be possible to increase the production of renewable energy in the Iberian Peninsula.