Advising multinational TOWA on power purchase agreement

  • The PPA guarantees that 100% of the energy used in Spain is green energy

The office
Thomas de Carranza
has advised the multinational pharmaceutical company
in the negotiation and closing of a long-term green power purchase agreement (PPA) for its facilities in Spain.

The PPA guarantees that all of the energy used by the company in its Spanish subsidiary will be of renewable origin. This is the Japanese company’s largest agreement of this kind in Spain. In addition, this action, together with the milestones achieved in the last three years, allows Towa to
seven years ahead of its target of reducing its direct emissions by 50%, a goal it had set for 2030.

The Firm’s legal team has been led by Santiago Thomás de Carranzaa managing partner of the firm. In his opinion, “The negotiation and closing of this type of contracts is legally complex as they are agreements that have to be thoroughly reviewed. Therefore, It is essential that there is frank and open cooperation with the parties involved and that customers are fully aware of the scope of the various contractual clauses. The good relationship with the internal team of
Towa International

in Spain,

Magnus Commodities


Axpo Iberia

have been key to this operation.

Thomás de Carranza Abogados
has extensive experience in the energy sector where he has participated in numerous financing transactions, sale and purchase and implementation of wind and photovoltaic farms or negotiation of long-term electricity supply contracts, among others.

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