Endesa and the University of Navarra have signed a renewable energy agreement for the next 10 years that will allow the institution to better manage energy prices. Specifically, it is a flexible and tailor-made contract consisting of three parts: a agreement power purchase agreement ( PPA ), a second block at a fixed price and a last part of "open" energy that will allow taking advantage of the opportunities offered by the wholesale markets in different time windows thanks to the personalized advice of the company's experts.

The agreement reached foresees supplying 48.2 GWh/year with Guarantees of Renewable Origin (GdOs) as of January 1, 2023 to the different centers of the University of Navarra, most of which are in the Autonomous Community, including the Clínica Universidad de Navarra and the Schools, Schools and Institutes, as well as the Centers of research and Museums. Also benefiting from agreement are the campuses of the IESE Business School in Barcelona and Madrid, as well as the Campus Tecnológico de la Universidad de Navarra in San Sebastián. In this way, Endesa will cover 100% of the institution's energy needs for its activities.

The fully renewable energy supply will prevent the emission of 12,432 tons of CO2 into the atmosphere per year, the equivalent of what is absorbed by more than 20,963 trees in 40 years.

According to Endesa's General Marketing director , Javier Uriarte, "PPAs have become a fundamental tool to mitigate price-related risks and provide long-term economic stability deadline in addition to covering energy needs. The contract, together with the permanent advice on the present and future status of the different energy markets, allows us to consolidate the present and face the future with guarantees for both companies. Being partners of such an important entity as the University of Navarra is great news for Endesa. The contract reaffirms the commitment of both companies to sustainability, social welfare and commitment to future generations".

For his part, Álvaro Balibrea, General Manager of the University of Navarra, said: "We are very satisfied with the link with a business like Endesa. Our goal is to establish sustainable agreements with companies from reference letter, which will help us to continue improving our service professor, researcher and assistance to society. It is also important for us to ensure that the energy consumed in our campus is environmentally friendly and in line with our goals of decarbonization and social sustainability. With this agreement we are closer to our zero emissions ambition."

Specifically, the PPA will cover 40% of the University of Navarra's consumption for the next 10 years, thus ensuring a price agreed between the two parties. In addition, and additionally, during the first 5 years, a fixed price has been agreed for another 40% of consumption, while the remaining 20% will be "open" energy that will be managed with Endesa's personalized advisory services. This modality will grow from 20% to 60% during the last 5 years of the agreement, so that the risk of closing all the energy on a specific day will be diversified, a modality increasingly appreciated by companies. agreement In this way, Endesa will accompany the University of Navarra so that it can manage the "open" energy optimally and in accordance with its objectives and needs, jointly defining a strategy for management of the contract, providing information on status and the evolution of the energy markets, as well as providing recommendations.

Long-term supply contract deadline

The instability of the energy markets that we have been experiencing in recent months has caused companies and institutions to increasingly opt for changing their operations in the management of their energy expenses and decide to close energy contracts for a longer period of time deadline and at a price agreed between the parties (PPA). In this way, more stable energy supply prices are achieved.

In addition, PPAs linked to renewable energy help decarbonize the industrial sector while making companies more competitive.