Repsol Accelerates Bimbo's Net-Zero Roadmap With Renewable Power Purchase Agreement

• The companies have signed a 12-year virtual power purchase agreement that draws on the wind and solar capacity of Repsol’s assets, including its first hybrid projects in Spain.
• Through the agreement, Bimbo Group will cover 100% of its electricity consumption across Southern Europe.

Repsol has signed a long-term agreement with Bimbo Group to supply renewable energy, helping the world’s largest baking company advance its decarbonization goals in Europe.

Through nine 12-year virtual power purchase agreements (VPPAs), Bimbo Group will source renewable electricity equivalent to 100% of its annual consumption in Spain, Portugal, France, and Italy, totaling about 150 GWh per year.

The agreement is linked to wind and solar capacity from Repsol assets in Spain, including the company’s first solar hybrid projects, optimizing the use of existing resources and improving the efficiency of renewable power generation.

By moving beyond the purchase of renewable energy certificates (Guarantees of Origin) to long-term agreements tied to renewable assets, the Bimbo Group is reinforcing its commitment to renewable energy and the decarbonization of its European operations, covering 18 production sites in the region. Schneider Electric advised on the transaction.

“This agreement with Bimbo Group allows us to strengthen our renewable portfolio while meeting the long-term needs of large energy consumers,” said João Costeira, executive managing director of Low-Carbon Generation at Repsol.

“This long-term agreement marks a decisive step forward in the Bimbo Group’s decarbonization roadmap in Europe. By securing renewable electricity at scale—equivalent to 100% of our consumption in Spain, Portugal, France, and Italy—we support wind and solar capacity while translating our commitment to reach net-zero carbon emissions by 2050 into tangible action and reinforcing the sustainability and resilience of our operations,” said Baptiste Leroux, vice president of procurement at Bimbo Group EMEA.