PepsiCo sources renewable energy to power 100% of Spain & Portugal sites in deal with Iberdrola.

Food and beverage giant PepsiCo will source renewable energy to power 100% of its Spain and Portugal sites, through a new long-term power purchase agreement (PPA) with global energy company Iberdrola. Iberdrola will supply green energy for 11 of PepsiCo’s plants, facilities, logistics, and distribution centres, from its Francisco Pizarro photovoltaic (PV) plant that is being developed in Spain. The facility is expected to prevent 150,000 tons of CO2 from being released into the atmosphere per year, and with 590 MW of installed capacity, will become the largest PV plant in Europe. The agreement contributes to PepsiCo’s goals to achieve net zero emissions by 2040, forming part of the company’s pep+ sustainability framework. In 2020, PepsiCo also announced a goal to source 100% renewable electricity across all its company-owned and controlled operations globally by 2030 and across its entire franchise and third-party operations by 2040.