- The energy company will cover all the institution's energy requirements, by providing 48.2 GWh of green energy for each of the next 10 years.
- This is a flexible contract consisting of a PPA (Power Purchase Agreement), a fixed price block and an "open" energy block that will have customised assessment.
- The beneficiaries of the contract will be the University's centres, including the headquarters of the Clínica Universidad de Navarra in Pamplona and Madrid, those of IESE Business School in Barcelona and Madrid, and the University's Teaching and Research Centres in Pamplona, San Sebastián and Madrid.
Endesa and the University of Navarra have signed a renewable energy agreement for the next 10 years that will enable the institution to improve the management of energy prices. Specifically, it is a flexible, tailor-made contract consisting of three parts: A PPA (Power Purchase Agreement), a second block at a fixed price and a final part involving "open" energy that will enable advantage to be taken of the opportunities offered by the wholesale markets in different time windows as a result of customised assessment by the company's experts.
The agreement reached provides for supplying 48.2 GWh/year with Guarantees of Renewable Origin (GdOs) starting on 1 January 2023 to the different centres of the University of Navarra, most of which are in the Autonomous Community, including the Clínica Universidad de Navarra and the Faculties, Schools and Institutes, as well as the Research Centres and Museums. The IESE Business School in Barcelona and Madrid, as well as the Technological Campus of the University of Navarra located in San Sebastian will also benefit from the agreement. This will enable Endesa to supply 100% of the energy that the institution requires to undertake its activity.
The supply of totally renewable energy will mean avoiding the emission of 12,432 tons of CO2 annually into the atmosphere, the equivalent of what more than 20,963 trees would absorb in forty years.
According to Endesa’s General Marketing Manager, Javier Uriarte, "PPAs have become a key tool for mitigating risks associated with price rises and providing long-term financial stability, as well as meeting energy requirements. The contract, together with ongoing assessment on the present and future situation of the different energy markets, enables us to consolidate the present and prepare for the future with guarantees to both companies. Collaboration with an entity as significant as the University of Navarra is a very positive development for Endesa. The contract reaffirms both companies' commitment to sustainability, social welfare and future generations."
The Manager of the University of Navarra, Álvaro Balibrea, pointed out: "We are very satisfied to have a relationship with a company like Endesa. Our goal is to establish sustainable agreements with benchmark companies who can help us to continue improving our teaching, research and service to society. It is also important for us to ensure that the energy consumed on our campuses is environmentally friendly and in line with our goals for decarbonisation and social sustainability. This agreement will bring us closer to our goal of zero emissions."
Specifically, the PPA will cover 40% of the consumption of the University of Navarra over the next 10 years, thus ensuring a price agreed between the two parties. Additionally, during the first 5 years a fixed price has been established for a further 40% of consumption, while the remaining 20% will be "open" energy that will be managed with Endesa's customised assessment services. This modality will grow from 20% to 60% in the last 5 years of the agreement, so the risk of closing all the energy on a specific day will be diversified, a modality increasingly appreciated by companies. In this way, Endesa will accompany the University of Navarra to enable the optimal management of "open" energy in accordance with its objectives and needs, jointly defining a contract management strategy, providing information on the situation of and developments in the energy markets, as well as providing assessment.
Long-term supply contract
The instability in the energy markets that we have been experiencing in recent months caused more and more companies and institutions to choose to change how they manage their energy costs and to close longer-term energy contracts at a price agreed between the parties (PPA). This is how they achieve more stable prices with regard to energy supply.
PPAs linked to renewable energy also help in the decarbonisation of the industrial sector at the same time as making companies more competitive.
About Endesa
Endesa is the largest electricity company in Spain and the second largest in Portugal. The company is also the second largest gas operator in the Spanish market. Endesa operates an end-to-end generation, distribution and marketing business. Through Endesa X it also offers value-added services aimed at the electrification of energy usage in homes, companies, industries and Public Administrations. A new line of business has also been created. Endesa X Way is fully dedicated to electric mobility. Endesa is firmly committed to the United Nations SDGs and strongly supports the development of renewable energies through Enel Green Power España, the digitalisation of grids through e-distribution, and corporate social responsibility (CSR). The Endesa Foundation is also active in CSR-related matters. Our workforce numbers around 9,260 employees. Endesa is a division of Enel, Europe’s largest electricity group.
About the University of Navarra
The University of Navarra is an institution of Christian inspiration that undertakes its teaching, research and assistance activity on a non-profit basis and with the aim of being of service to society. With more than 13,000 students (of which 4,154 are international) and 1,186 teachers, it operates in different campuses such as Pamplona, San Sebastián, Madrid and Barcelona. It prepares students for 37 bachelor's degrees, 42 master's degrees and 19 doctoral programmes. It aims to offer students 360º education, with the necessary knowledge to face the challenges that will be presented by their professional career. It also undertakes high-level research, for which it has research centres involving more than 1,000 professionals. Throughout its 70 years of life, 188,120 alumni have been trained and who then went on to work in more than 120 countries. It is currently promoting what it calls its 2025 Strategy, focussed on projects based on sustainable development and the care of people and the environment.