100% of the energy consumed by ITP Aero in Spain will be renewable

The 10-year contract signed with Axpo will mean the supply of 250 GWh of 100% renewable energy for ITP Aero’s centres in Spain, which represents 35% of its annual consumption.

The remaining 65% of the company’s annual energy consumption is certified with the corresponding GdO’s that guarantee its renewable origin.

This initiative is part of the actions that ITP Aero is carrying out 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 the collaboration of ASE Asesores, for the supply, over 10 years, of 250 GWh of energy exclusively from renewable sources.

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

This milestone forms 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 is committed 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 on transforming our energy sources towards others with a lower CO2 impact, generating our own energy, improving our products, promoting the use of sustainable aviation fuels and researching and developing 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. The signing of this PPA will guarantee ITP Aero risk coverage and a competitive price to develop its activity. All this without forgetting its commitment to the environment and sustainability by opting for energy that comes exclusively from renewable plants”.