Iberdrola has signed a PPA with Holcim to provide the building firm with 250 GWh of renewable energy per year from its Baltic Eagle offshore wind farm in Germany. The clean energy will help to accelerate Holcim’s net-zero journey in Germany, where it aims to expand the use of renewable energy in its operations to over 80 per cent by 2030. The Baltic Eagle offshore wind farm is currently under construction in the Baltic Sea, north of the island of Rügen, and will have a total capacity of 476 MW when completed in 2024. 

As part of a wider agreement, the two companies have established a working group to analyse the potential of delivering a broad range of further sustainability-linked projects in Europe and potentially other continents. The proposals being developed include potential additional PPAs to decarbonise operations, as well as analysing suitable locations to develop on-site renewables facilities at operational plants owned by Holcim, from solar PV to green hydrogen.

Iberdrola will also help Holcim to analyse projects that could help to increase the electrification of existing industrial processes and boost electric mobility solutions. Ultimately, in the long-term, both companies aspire to deploy 100 per cent emissions free green cement to help construct renewable energy projects around the world. In April 2023, Glencore, FCC Ámbito, and Iberdrola signed a new agreement for the recycling of lithium-ion batteries in Spain and Portugal. It is planned to build a factory specifically for recycling batteries; the location of the factory has not yet been chosen.