News Summary
- Owned and operated by IGNIS, Cisco anticipates that the Spanish solar plant will provide enough solar energy to match 100% of its European operations' annual electricity needs*
- The deal involves a 37-MWac new-built solar plant in a Virtual Power Purchase Agreement (VPPA) which will generate approximately 80,000 MWh of electricity per year (60,000 MWh allocated to Cisco)
- This milestone helps advance Cisco's net-zero goal and generates local impact, creating jobs and innovation in a rural area key to the Spanish national digitization agenda.
AMSTERDAM, NETHERLANDS / ACCESSWIRE / February 20, 2024 / Cisco has signed a 15-year agreement to purchase approximately 60,000 MWh per year of solar energy from Spanish renewable energy provider, IGNIS. This commitment from Cisco has enabled IGNIS to build a new solar plant in the "España Vaciada" or "empty Spain" region of Teruel (Aragón), a key area of investment and focus for the Spanish Government. The plant is expected to provide enough solar energy to match 100% of annual electricity needs* for Cisco's European operations for the next 15 years.
Global and Local Impact
A key pillar of Cisco's environmental sustainability strategy is to accelerate the transition to clean energy, moving away from fossil fuels toward wind, solar, and other renewable energy sources. Over the past few years, Cisco has executed numerous long-term renewable energy contracts, such as power purchase agreements (PPAs), located near its facilities.
The announcement also reinforces Cisco's commitment to Spain's digital transformation through projects aimed at fostering innovation and building digital infrastructure. The agreement will add new renewable energy to the Spanish public grid and has helped generate economic growth in the local community, which has supported the project from the start. More than a hundred jobs were created during construction, as well as the creation of a permanent IGNIS team in the region of Aragón. This project not only promotes employment through the park's operation and maintenance, but will also generate local revenue and foster activity in this "empty" region of Spain.
With an eventual planned production volume of around 80,000 MWh per year (60,000 MWh allocated to Cisco), we expect the solar plant to be fully operational in March 2024. This combines with a portfolio of more than 6 GW of operational assets already managed by IGNIS.
Net Zero Goal
Cisco has been reporting on its environmental impact since 2005. In 2021, Cisco set a goal to reach zero greenhouse gas emissions across our value chain by 2040. Our goal includes all scopes of emissions and is approved by the Science Based Targets initiative under its Corporate Net-Zero Standard, the world's only framework for corporate net-zero target setting in line with climate science. In our fiscal year 2023, Cisco consumed more than 1.3 million MWh of renewable electricity, making up 91% of its total global electricity demand.
"Our purpose is to power an inclusive future for all, and this agreement is an important moment in our journey to net zero, continuing our transition away from fossil fuels and towards a regenerative future. Long-term agreements like this project enable Cisco to not only reduce our own emissions, but to help increase the renewable capacity available overall. It also reinforces Cisco's commitment to Spain's digital transformation and the government's agenda towards clean energy, being the most impactful multi-year energy contract for Cisco in Europe," says Mary de Wysocki, Cisco Chief Sustainability Officer.
"Cisco has a long history of investing in Spain's digital acceleration with projects like Digitaliza, which is in its fourth year, along with the recently announced launch of a next-generation semiconductor design center in Spain. We're delighted to see this expand to producing renewable energy, and we're proud to work with IGNIS on a national project that will supply clean energy to Cisco markets in Europe," states Andreu Vilamitjana, Cisco Spain General Manager.
"This agreement strengthens IGNIS's contribution to the decarbonization of the economy and sets a milestone in our consolidation as a leading integrated energy company. As a global firm, we are focused on delivering and managing renewable energy projects worldwide, and we're delighted to work with Cisco and become one of their partners on their road to net zero", says Santiago Bordiú, CEO Asset and Energy Management of IGNIS.
* Excluding the United Kingdom, Poland, Romania, and Bulgaria, which are not Association of Issuing Bodies (AIB) countries and are therefore not covered by the scope of the Virtual Power Purchase Agreement (VPPA).
Media Contacts
Ariadna Hernández
Public Relations
+34 677 45 78 82
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