Inditex invests €30 million for sustainable energy project in A Coruña, Spain
Investing remains a priority at Inditex, as indicated a few days ago by the group’s president Pablo Isla, taking part in the Wake Up, Spain! forum. In a statement released on Thursday April 22, the Spanish textile giant indicated it has submitted to the port authority of the city of A Coruña a request for administrative approval for the installation of three wind turbines, which would be located on the Levante esplanade of A Coruña’s Puerto Exterior, the outer harbour facilities.
As indicated by Inditex, these wind turbines are expected to generate enough sustainable energy to cover the collective consumption of the port facilities at Punta Langosteira, and of Inditex’s headquarters in Arteixo, where the group’s central offices, production facilities and distribution centre are located.
The proposal contained in Inditex’s application, which will be evaluated in the coming months, indicates that the group would take care of the total investment for the wind-turbine facilities, valued at €30 million, in addition to their subsequent management and maintenance. If this investment is confirmed, it would be additional to the €130 million paid by the group for the construction of a new 67,000 square metre building for Zara, located at Inditex’s Arteixo headquarters.
For the Galician textile giant, being self-sufficient in its sustainable energy needs is a “step further” towards the commitment to incorporate “the most efficient energy [sources] into all its operations.” Inditex’s goal is to ensure that, by the end of the current financial year, 90% of the energy consumed at its facilities worldwide will come from sustainable sources.
In 2020, 80% of Inditex’s overall energy use came from renewable sources, a higher share than forecast, while in Spain the figure has already reached 100%. At the end of 2020, the group’s revenue fell by 28% to €20.402 billion, a downturn that was mainly due to the impact of the pandemic, which forced Inditex to keep the majority of its stores closed for weeks at a time.
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