By Joshua Kirby

Iberdrola SA's Australian subsidiary has signed an agreement to provide renewable energy to retailer Woolworths Group Ltd., the Spanish energy company said Tuesday.

Under the contract, which will run until the end of 2030, Iberdrola Australia will provide electricity to the group's supermarkets and stores and a distribution center in South Australia, the company said. The power will come from Iberdrola Australia's hybrid wind-solar plant at Port Augusta in the region, it added.

The agreement is part of Woolworths' aim to use 100% renewable energy by 2025, Iberdrola said. "Woolworths is demonstrating that together we can decarbonize our electricity sector, preserve our natural environment and create jobs in Australia's regional communities," Ross Rolfe, chief executive of Iberdrola Australia, said.

Iberdrola didn't disclose any of the contract's financial details.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

May 17, 2022 04:49 ET (08:49 GMT)

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