Burger King Restaurants Signed a Corporate PPA for 1,500 GWh of Electrical Energy with Iberdrola
/MADRID, July 11, 2024, 10:00 CEST, Iberdrola/ This new agreement will allow Iberdrola to supply the restaurant chain with a total of 1,500 Gigawatt hours (GWh) of photovoltaic (PV) energy, contributing to accelerating Burger King's path towards decarbonisation and increasing its energy security.
The energy will come from the Francisco Pizarro photovoltaic plant (Cáceres), which, with an installed capacity of 553 MW, provides renewable energy equivalent to the consumption of 334,400 households − avoiding the emission into the atmosphere of 150,000 tonnes of CO2 annually and reducing the carbon footprint. Specifically, 75 MW of the photovoltaic plant will be used to meet Burger King's energy needs.
In addition, and as part of the common goal of both companies to reduce CO2 emissions and meet energy transition targets, Iberdrola and bp pulse are managing 154 charging points, with 306 available spots, at 135 locations at Burger King's main facilities in Spain, also providing management and optimisation services for their operation. In 2021, both companies signed a collaboration agreement for installing charging points for electric vehicles (EV) in their restaurants.
David Martínez, Iberdrola España’s Director of Customer Business said: "With this agreement, both companies endorse our commitment to a cleaner and smarter future. Renewables have proven their ability to supply energy at affordable and stable prices and long-term PPAs have become a useful tool for managing the electricity supply of large consumers committed to green and sustainable consumption. Such long-term agreements are increasingly important to enable progress in decarbonisation and sustainability of the economy".
Luis Hérault, the CEO of Restaurant Brands Iberia, the group that manages the Burger King master franchise in Spain and Portugal, commented that "this is an initiative that adds value to our commitment to the use of green energy, to make our business model even more energy efficient. Iberdrola is undoubtedly the outstanding partner with which to work hand in hand to achieve this goal, as we have been working together for three years, with magnificent results".
Iberdrola has extensive experience in the field of PPAs and manages long-term power purchase and sale agreements in markets such as Spain, the United Kingdom, the United States, Mexico and Australia, from onshore and offshore wind projects, as well as photovoltaic projects. In addition, Iberdrola announced that it has sold around 90% of the energy it plans to generate between 2024 and 2025.
About Iberdrola
The Iberdrola group is today a global energy leader. The company brought the energy transition forward two decades to combat climate change and offer a sustainable and competitive business model that creates value for society. Iberdrola has been committed to clean energy for more than 20 years with the objective of exceeding 52,000 MW of renewable capacity by 2025. It is the leading wind power producer and one of the largest electricity companies in the world in terms of stock market capitalisation.
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Image credit: Iberdrola
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