Resonac Graphite Spain S.A.U., part of one of the business units of the Japanese multinational with global projection Resonac (previously known as Showa Denko), devoted to the production of graphite electrodes for the smelting of steel scrap, and EDP,a world-leading renewable energy company, have signed a power purchase agreement (PPA) that shall last for the next 10 years, with a chance to further extend it. This agreement, already in place this year 2023, consolidates the relationship both companies have had for years.

Resonac, for whom this agreement means a renewal of its trust in EDP and an intensification of their commitment to Galicia, is a large power consumer that, thanks to this signing, among others, will obtain renewable energy for 100% of their electricity consumption. Through this agreement, both companies strengthen their relationship and one of their strategic priorities: environmental protection. This renewable energy and its usage will prevent the emission of 67,600 tons of CO2 each year, an impact on air quality similar to that of 5.2 million new trees.

This deal includes multiple advantages, as it ensures 100% renewable electric energy and allows for long-term visibility of energy costs.

For David Germade, general director of Operations at Resonac Graphite Spain, “this contract gives us the chance to stabilise one of our main cost elements and position ourselves as lead provider for our clients in their aim of producing green steel. It is one more step in our commitment to sustainability and the economic and industrial development of Galicia”.

For the director of the Department of Large Customers of EDP Spain, Javier Cabezudo, “the importance of this agreement is essential for carrying out our companies’ decarbonization objectives and represents our strategic priorities in the energy transition, such as boosting renewables and offering innovative, personalised solutions for our customers, thus showing ourselves as a solid and innovative partner capable of developing long-term projects”.

This agreement is delineated in EDP’s Business Plan for 2023-2026, through which it expects to make investments worth 25 billion euros to hasten the deployment of renewable energies, the flexibility of the electric system and the design of innovative solutions for its clients, such as this PPA with Resonac. This high-reaching plan contributes to EDP’s goal of being 100% green in 2030.