en.Wedoany.com Reported - Repsol and Bimbo Group have signed a 12-year virtual power purchase agreement (VPPA) to supply 100% renewable electricity to the world's largest baking company's European operations, with an annual supply of approximately 150 GWh.
The agreement comprises nine long-term contracts corresponding to Bimbo Group's total annual electricity consumption in Spain, Portugal, France, and Italy. The power will come from Repsol's wind and solar assets in Spain, including the company's first solar hybrid project, designed to optimize the use of existing resources and enhance renewable power generation efficiency.
By shifting from purchasing renewable energy certificates to long-term agreements tied to specific renewable assets, Bimbo Group has strengthened its decarbonization commitment for its European operations, covering 18 production sites in the region. Schneider Electric provided advisory services for the transaction.
"This agreement allows us to further strengthen our renewable portfolio while meeting the long-term needs of a major energy consumer," said João Costeira, Executive Director of Low-Carbon Generation at Repsol.
Baptiste Leroux, Vice President of Procurement for EMEA at Bimbo Group, stated: "This long-term agreement marks a decisive step in Bimbo Group's decarbonization roadmap in Europe. By securing renewable electricity at scale—equivalent to our entire consumption in Spain, Portugal, France, and Italy—we are supporting wind and solar capacity while translating our commitment to achieving net-zero carbon emissions by 2050 into tangible action and enhancing the sustainability and resilience of our operations."
Repsol is an energy company with 24,000 employees and 24 million customers across more than 20 countries, offering mobility, residential, and business energy solutions. The company produces 548,000 barrels of oil equivalent per day, operates one of Europe's most efficient refining systems, and is transforming six industrial complexes on the Iberian Peninsula into multi-energy hubs. Its installed renewable generation capacity exceeds 6,000 MW, primarily concentrated in Spain and the United States.
Bimbo Group is the world's largest baking company, operating in 96 countries and directly in 39. The company has 250 bakeries and plants, more than 1,600 sales centers, over 55,000 distribution routes, more than 152,000 employees, and annual sales exceeding $22 billion. Its shares are listed on the Mexican Stock Exchange (BMV) under the ticker BIMBO and are also traded on the U.S. over-the-counter market.
