Elawan Energy, a global leader in the renewable energy sector, announces the signing of a 10-year virtual PPA with Lear Corporation, a global automotive technology company with a presence in over 35 countries.The wind farm, which recently began operations, will supply clean and sustainable energy to thousands of homes and businesses, while contributing to the decarbonization goals of Spain and the European Union.
This long-term partnership will enable Lear Corporation to meet more than 50% of its operational electricity needs in the EU with renewable energy, advancing its sustainability strategy while ensuring long-term price stability and protection against electricity market volatility.“This achievement represents a strategic milestone for Elawan Energy, as it consolidates our position as a leading independent power producer (IPP) in Spain, with a diversified generation portfolio that contributes to the country’s sustainability goals,” said Diego García, Head of Revenue Management and PPAs.
With this agreement, Elawan Energy continues to expand its international portfolio of renewable energy projects and reinforces its role as a strategic partner in the transition toward a more sustainable energy model. Currently, Elawan Energy operates globally in 15 countries and manages a diversified portfolio that includes 2.3 GW of installed capacity, 0.7 GW under construction, and a development pipeline exceeding 11.8 GW.
Lear Corporation was advised by Schneider Electric Advisory Services.
