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Enel Green Power, part of Italian utility group Enel SpA (BIT:ENEL), has clinched a deal to supply power from a 47-MW solar project in Spain to German sporting goods giant Adidas AG (ETR:ADS).
The renewable energy company said last week it has signed a virtual power purchase agreement (PPA) through its Enel X Global Retail subsidiary. The contract is tied to a photovoltaic (PV) park that is currently under construction in the province of Seville and is planned to start feeding power to the grid in the coming months.
Supplies under the 10-year PPA will begin in 2025, providing Adidas with roughly 50 GWh of clean electricity annually.
The German sportswear maker has set a goal of achieving climate neutrality for its own operations by 2025 and reducing its absolute greenhouse gas (GHG) emissions by 30% across the entire value chain by the end of the decade. |
