CEMEX to purchase clean electricity for Spanish cement operations - CEMEX to purchase clean electricity for Spanish cement operations
July 21, 2022
- CEMEX has signed a ten-year agreement to purchase 100% clean electricity from ACCIONA Energía.
- The agreement will cover 30% of the electric power required for CEMEX’s cement operations in Spain.
- The agreement aligns with CEMEX’s Scope 2 goals within its Future in Action strategy to become a net-zero CO2 company.
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it has signed a power purchase agreement with ACCIONA Energía for the supply of clean electricity for CEMEX’s cement operations in Spain. The agreement strengthens CEMEX’s efforts to ensure a sustainable and reliable supply of energy while also providing cost certainty for its operations in Europe.
“Increasing clean electricity consumption is a key part of our decarbonization roadmap,” said Sergio Menéndez, President of CEMEX Europe, Middle East, Africa & Asia. “This agreement shows our commitment to our clean energy transition, building on the success of similar agreements in other geographies.”
CEMEX has standing agreements to acquire clean electricity in several countries globally. Earlier this year, the company announced its cement operations in Guatemala would run entirely on 100% clean electricity from Enel Green Power.
CEMEX has an ambitious Scope 2 goal to obtain 55% of its electricity needs for cement operations from clean sources by 2030. Scope 2 emissions are indirect greenhouse gas emissions associated with the purchase of electricity; their reduction is key to the company’s Future in Action program to achieve carbon neutrality. In 2021, the company achieved a clean electricity rate of 30% in its cement operations worldwide.
CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: cemex.com
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX’s expectations, including the announced agreement to not produce the expected results. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events or otherwise. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Analyst and Investor Relations
Alfredo Garza / Fabián Orta