By Giulia Petroni

Iberdrola said Wednesday that it will provide 250 gigawatt hours of renewable energy per year to Holcim as part of a power purchase agreement.

The Spanish energy company said the energy will be provided from its Baltic Eagle offshore windfarm in Germany, which is currently under construction and set to be completed by 2024. The farm will have a total capacity of 476 megawatts.

The companies have also agreed to collaborate on a range of further sustainability initiatives that include potential additional PPAs, Iberdrola said.

Financial details weren't released.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

May 24, 2023 05:38 ET (09:38 GMT)

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