Mercedes-Benz has signed a power purchase agreement (PPA) for 140 megawatts of wind energy with Spain's Iberdrola. The agreement with Iberdrola will support Mercedes-Benz in meeting its renewable energy goals while shaving production costs and reducing carbon emissions, production chief Joerg Burzer said. The deal is expected to be in the hundreds of millions of euros. Investing in renewable energy through PPAs provides producers with secured financing while stabilizing energy prices, which will benefit the carmaker's financial…
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