Madrid, February 13, 2020. FORTIA ENERGÍA, the energy management platform for large industrial consumers, and ENGIE SPAIN, a leading energy partner in all energy-related businesses, have signed a long-term energy purchase agreement term to supply large industrial consumers in Spain and Portugal.
From January 1, 2020 and over a period of eleven years, ENGIE will supply more than 400 GWh / year of electricity to FORTIA, a company that manages the supply of energy to large industrial corporations in basic sectors such as steel, cement, metallurgy, chemistry or paper. The energy will be obtained either from ENGIE’s renewable portfolio in the Iberian Peninsula or from ENGIE’s energy management operations within the Iberian market. ENGIE is deploying an ambitious growth strategy based on renewable energy development in Spain and Portugal.
“With this agreement, FORTIA paves the way to a more sustainable industrial energy model, by promoting the development of renewable energy sources, and provides its customers access to a menu of contracts with different prices and terms for a more competitive long-term supply”, says Blanca Losada, President of FORTIA. “Energy transition offers, especially in Iberian market, really interesting wholesale opportunities that FORTIA, as aggregator platform, is able to transform into tailormade, innovative and solvent solutions for corporate energy supply. With this contract, signed with ENGIE as global energy partner, FORTIA reinforces its portfolio of suppliers and goes forward on its strategy, based on offering a wide range of energy sourcing products, with multiple alternatives regarding contractual design and price structuring”, concludes Blanca Losada.
“This multi-contract PPA consolidates the strategy that ENGIE has initiated in Spain more than two years ago, which consist of establishing long-term alliances with large industrial consumers such as FORTIA and at the same time leveraging on these alliances to manage the risk coming from ENGIE’s investments in renewable assets that require a PPA, such as Goya Project. This contract makes the industrial model of the energy transition towards lower carbon economies a reality. It allows us to innovate in energy sustainability, by adapting our products to the expectations of FORTIA. ENGIE demonstrates, once again, its priority for developing solutions responding to the specific demands of its customers”, Highlights Loreto Ordonez, CEO of ENGIE in Spain. “This PPA is a proof of the added value of ENGIE Group when the market demands strong adaptation to complex needs from the clients. ENGIE Business Unit Global Energy Management plays a key role when originating these PPAs and managing its associated market risks, aligning the interest of generators and energy consumers.” states Edouard Neviaski, CEO of Business Unit GEM at ENGIE Group.
About FORTIA ENERGÍA:
FORTIA emerged in 2007 as an innovative solution for energy supply. It was created by a group of large Spanish industrial consumers, and today it is the largest independent supplier in the Iberian Electricity Market (MIBEL). Its business model based on transparency and flexibility, FORTIA offers tailormade solutions for corporate customers and supplies electricity to more than 100 production centers in Spain and Portugal, all of them with flexible consumption, able to offer demand side management services in the market (www.fortianergia-pre.vorago.es).
About ENGIE:
ENGIE has more than 2,200 employees in Spain, and its differential value is its ability to design, operate and maintain industrial facilities, in addition to supplying gas or electricity according to the specific requirements of each client. With this PPA Contract, ENGIE demonstrates its strong capabilities within an integrated long-term energy management business throughout the entire power value chain, from generation to commercialization. Likewise, ENGIE strengthens its commercial relations with the main Spanish industrial companies grouped in FORTIA, offering them flexible and tailored solutions perfectly adapted to the new challenges of the energy landscape.
The ENGIE Group is a world reference in energy and low carbon services. His ambition is to become the world leader in a transition to zero carbon, particularly for business and civil society. It relies on its key businesses (renewable energy, gas and services) to offer competitive turnkey solutions “as a service”. With 160,000 employees, their customers, partners and shareholders, ENGIE is a community of Imaginative Builders, committed every day to more harmonious social progress, thanks to zero carbon-based economies.
ENGIE in Spain offers its clients the best integral solutions adapted to their energy needs, thanks to the knowledge acquired by its wide network of experts in energy and multi-technical services. ENGIE is also committed to maximizing the savings of its customers through energy efficiency.
