100% renewable energy for Spain's best fashion shops
Tendam signs PPA agreement with EDP for renewable energy supply over the next 10 years
Tendam, one of Europe's leading groups in the specialised fashion sector, which includes the commercial brands Women'secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove and High Spirits and Fifty; and the energy company EDP, a world leader in renewable energies, have signed a long-term power purchase agreement (PPA) to consolidate the supply of renewable electricity to the nearly 800 shops, offices and logistics centres that the company has in Spain.
The agreement covers the supply of 70 GWh of renewable energy per year for a period of 10 years, which is equivalent to the average electricity consumption of almost 20,000 homes. This agreement has been negotiated between the parties over the past year, with the participation of ACE - Servicios de Gestión de Energía as manager and advisor to Tendam.
The collaboration between the two entities will prevent the emission of 17,500 tonnes of CO2 each year, an impact on air quality similar to that generated by more than one million new trees.
Tendam's participation in the creation of a renewable energy infrastructure reinforces its sustainability strategy focused on mitigating the impact on the environment. In this way the company moves closer to meeting its SBTi approved science-based emission reduction targets to achieve carbon neutrality by 2040. This positive climate impact strategy adds to the growth of its brands' more sustainable product offering, which represents around 30% of the collections. The progress made has enabled Tendam to improve its CDP Climate rating to A- in 2021.
Laura Redondo, Tendam's general purchasing manager, says: "We continue to make decisive progress in the fight against climate change by focusing on protecting the environment. This collaboration agreement reflects the company's strategy and its commitments to reduce its CO2 emissions, limiting global warming to 1.5ºC, and with the objective of reaching 100% renewable energy consumption by 2030 worldwide, an objective that we have already achieved in Spain, our main market".
For his part, EDP's Director of Large Customer Sales, Javier Cabezudo, emphasised that "this alliance with Tendam reflects our commitment to the search for formulas adapted to the needs of our customers, while at the same time strengthening one of EDP's strategic priorities, such as the promotion of renewable energies". Javier Cabezudo also stressed that "long-term agreements, such as this ten-year agreement, provide stability and greater visibility of energy costs, favouring the competitiveness of companies at times like the present, where exposure to market prices at record highs undermines competitiveness".
EDP's recently approved Strategic Plan for the period 2021-2025 foresees investments of 24 billion euros. Investments will be focused on three main lines of action: growth in renewable energies, flexibility and intelligence of the electricity distribution networks, and
and intelligence of the electricity distribution networks and a commitment to design and offer the most innovative solutions to its customers. This ambitious plan contributes to EDP's goal of being 100% green by 2030.
