Powertis has chalked out a 2 GW solar power project development plan in Brazil and Spain encouraged by the attractive bilateral PPA scene in these countries. For instance, Spain’s Iberdrola has secured 3 private PPAs for its yet to become operational 391 MW solar power plant in Spain. Pictured is Iberdrola’s Mexican solar power plant in San Luis Potosi. (Photo Credit: Iberdrola, S.A.)
- Powertis has announced it will develop 2 GW of total solar power project capacity in Brazil and Spain by 2022
- Out of 1 GW it plans for Brazil, it plans to start construction on the first projects in Q1/2020 and achieve grid connection on the entire capacity by December 2021
- In Spain too it wants to develop 1 GW solar power capacity offering turnkey services ranging from feasibility study to project financing
Spanish utility scale solar power project developer Powertis is targeting 2 GW capacity to be developed over the next 3 years in Brazil and Spain. In both these nations, it wants to install 1 GW each, taking advantage of the active bilateral power purchase agreements (PPAs) environment here.
A new kid on the block, Madrid headquartered Powertis was established less than a year back. It now confirms signing up PPAs for 1 GW capacity in Brazil. Construction of the first projects here is expected to commence in Q1/2020 and by December 2021. It aims to commission and grid connect the entire capacity.
Powertis did not share details about specific projects it plans to develop in Brazil or Spain, but said it is entering the Spanish solar market offering turnkey services ranging from feasibility study to project financing.
“At Powertis, we focus on large projects that use the latest technology, minimizes the cost of solar, and let us negotiate sophisticated bilateral contracts, with the ultimate goal of offering a guaranteed and sustainable return to our investors,” said Pablo Otín, CEO of Powertis.
Bilateral PPAs of corporates or private entities signing up to buy power from PV plants is gaining ground in Brazil as well as Spain. In November 2018, Spain’s Iberdrola, for example, secured a 3rd PPA for its yet unfinished 391 MW Nuñez de Balboa solar power plant with a food distribution company Uvesco Group. (see Iberdrola Secures 3rd PPA For Spanish PV Plant).