RE100 member Nike has signed its first European power purchase agreement (PPA), which, once online, will see the company become 75% powered by renewable electricity worldwide.
RE100 is a corporate leadership initiative on renewable electricity led by The Climate Group, the global non profit focused on accelerating climate action, and is delivered in partnership with CDP.
The new PPA will see Nike receive a supply of 40 MW of wind power from a new 111 MW project being built by Iberdrola in Navarra, Spain.
This is the first step the company has taken to cover its European operations with renewable power. It comes a year after Nike signed a PPA to source wind energy in Texas, transferring its North American operations to 100% renewable power.
Mike Peirce, Corporate Partnerships Director, The Climate Group, said: “We’re thrilled about Nike’s news – this is a powerful illustration of how RE100 members are investing at scale and accelerating the global shift to clean energy.
“By committing to source electricity from a new wind project in Spain, Nike is growing its own renewables portfolio as well as supporting the construction of new projects to power local homes and communities – generating benefits on all sides.”
Noel Kinder, Nike Chief Sustainability Officer, said: “All athletes need fresh air and clean water to thrive. Delivering on our sustainability commitments, like working towards 100% renewable energy across our owned and operated facilities worldwide, is just one of the ways we protect the future of sport.”
He continued: “In 2018, we announced that we had contracted for 100% renewable energy in North America, and this latest agreement means we will be operating on 100% renewable energy across Europe by 2020. This means we are delivering against more than 75% of our worldwide goal.”
Growing renewables markets in Europe
Nike is committed to sourcing 100% renewable electricity by 2025, with this recent PPA in Navarra representing an important first step for its European operations.
Navarra is a member of the Under2 Coalition, a group of ambitious state and regional governments committed to climate action for which The Climate Group acts as Secretariat. 81.1% of its electricity demand is currently covered by renewables, and the region has established itself as a European leader in wind power innovation. Encouraging private investment in renewables is part of Navarra’s roadmap for growing the industry further.
Commenting on the agreement signed with Nike, Xabier Viteri, Director of Renewables at Iberdrola, said: “Large businesses with a focus on sustainability are showing that they can be a positive force in tackling climate change. More and more we are seeing companies set themselves tough carbon reduction goals, and Nike is showing leadership in taking action to deliver on those goals.”
RE100 members are increasingly choosing PPAs as a method for sourcing renewable power. The recent RE100 Progress and Insights Annual Report revealed that 16% of the renewable power sourced by member companies in 2017 came from PPAs.