Iberdrola Secures 3rd PPA For Spanish PV Plant

Spanish Energy Company Iberdrola Signs Power Purchase Agreement With Local Food Distribution Company Uvesco Group, Its 3rd PPA For 391 MW Nuñez de Balboa Solar Power Plant
05:31 AM (Beijing Time) - 20. November 2018

Spanish utility Iberdrola, which has now secured 3 PPAs for its 391 MW PV project in Spain, says on completion the project is set to become Europe’s biggest solar power plant. Pictured is the company’s PV plant in Santiago in San Luis Potosi, Mexico. (Photo Credit: Iberdrola)

Key Takeaways

  • Iberdrola has signed a PPA with Uvesco Group in Spain for its 391 MW Nuñez de Balboa solar power plant
  • It says this is the first PPA signed between a power company and a distribution group in Spain
  • This makes it the 3rd PPA Iberdrola has signed for the 391 MW project even before the project has started commercial operations

Spanish company Iberdrola has announced signing a power purchase agreement (PPA) with food distribution company Uvesco Group, operating under the trade name of BM Supermercados. Iberdrola says this is the first PPA signed between a power company and a distribution group in Spain. However, the company doesn’t specify the number of years or the financial terms.

The Spanish power company will provide power to Uvesco Group through its under-development project, the 391 MW Nuñez de Balboa solar power plant coming up in Usagre (Badajoz-Extremadura) region of Spain. It says on completion in 2020, the project ‘is set to be Europe’s biggest solar power plant’.

“PPAs open up new opportunities for the development of energies that will set the standard for the world’s energy future. Renewables have proven their competitive advantage and their ability to supply power at affordable and stable prices,” said Ángeles Santamaria, CEO of Iberdrola España. “In the long-term, PPAs will rise as an instrumental tool in managing the power supply for large consumers who are committed to achieving green and sustainable consumption.”

This is the 3rd client Iberdrola has managed to get to sell power to from the 391 MW project. The other two companies that will purchase power from this plant once its starts commercial operations are telecom group Euskaltel and Kuxtabank (see Spain’s Iberdrola Laps Up 2nd PPA For 391 MW Plant).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani