HomeCompany NewsPepsiCo enters renewable power purchase agreements with Iberdrola in Spain and Portugal

PepsiCo enters renewable power purchase agreements with Iberdrola in Spain and Portugal

PepsiCo has inked a long-term Power Purchase Agreement with Spanish electric utility Iberdrola to supply 100% renewable electricity to the company’s facilities in Spain and Portugal.

The PPA will go into force in January 2023. Iberdrola will deliver green energy from its upcoming Francisco Pizarro solar photovoltaic plant to 11 PepsiCo facilities, including three in Spain (beverages in Lava, snacks in Burgos, and gazpacho Alvalle in Murcia), as well as another in Carregado, Mexico (Portugal).

Renewable energy will also power two big logistics hubs in Burgos and Valencia, as well as sales offices in Vitoria, Pamplona, and Palma de Mallorca, as well as offices in Vitoria and Barcelona.

The Francisco Pizarro photovoltaic facility is currently under construction and will be operating soon. The facility will prevent more than 150,000 tonnes of CO2 emissions each year. It has a capacity of 590 MW and can generate enough electricity to power 334,000 houses per year.

“We are proud to be part of the development of projects like this that are transforming our country’s energy present and future and are fully aligned with our goal to reach net zero emissions by 2040,” says Marta Puyuelo, Director of Corporate Affairs and Sustainability for PepsiCo Southwest Europe.

PepsiCo plans to cut GHG emissions by more than 40% by 2030 and achieve net-zero emissions by 2040. By 2030, it targets for a 75% decrease in Scope 1 and 2 emissions and a 40% reduction in Scope 3 emissions. The combined measure is estimated to reduce GHG emissions by 26 million metric tons.

In order to meet that target, the company plans to invest €150 billion by 2030 in renewable energy, power infrastructure, and energy storage. It already has approximately 38,300 MW of installed green power.

In the U.S., PepsiCo Beverages North America (PBNA) announced it has acquired nearly 152 acres of land at the Denver High Point development area where it will build a state-of-the-art, 1.2 million square foot manufacturing facility (rendering pictured here). Set to open in 2023, the new facility will be PBNA’s largest U.S. plant location.

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