The solar PPA for 252 MW capacity with Statkraft will help Solaria Energia access attractive financing, said the Spanish solar developer that will start supplying clean power post commissioning the projects through 2020. (Photo Credit: Solaria Energia y Medio Ambiente, S.A.)
- Statkraft and Solaria Energia have signed on a PPA for solar power supply from five solar projects in Spain
- Solaria Energia will set up three of these projects in Castilla Y Leon and two in Castilla La Mancha, together representing 252 MW capacity
- Under the 10-year PPA signed, the projects will be grid connected progressively through 2020
- Power generated will be supplied to industrial customers of Statkraft on the Iberian Peninsula
- Foresight Group has also secured a 10-year PPA for 50 MW Guzman Solar Plant with EDFT
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It seems to be the season for signing solar power purchase agreements (PPA) in Spain. The latest deal has been announced by Norwegian energy company Statkraft and Spanish solar energy developer Solaria Energia y Medio Ambiente for 252 MW capacity.
Solaria Energia will supply around 500 GWh of solar power annually to Statkraft from five projects with a total installed capacity of 252 MW. Three of these projects will be located in Castilla y Leon and two in Castilla La Mancha, all of which will be connected to the grid progressively through 2020. The long-term PPA will be in effect for 10 years post commissioning.
“This agreement reaffirms our commitment to develop projects with very high quality PPAs that will allow us to access very attractive financing,” said Solaria Energia COO Darío López. The company recently secured a 10-year PPA with Alpiq for 105 MW solar power capacity in Spain (see Alpiq Signs Another Solar PPA In Spain For 105 MW).
Statkraft said it will be sending out this clean power to its major industrial customers on the Iberian Peninsula, a region with strategic importance for Statkraft. In November 2019, it set up a dedicated team here with ex-Fotowatio Renewable Ventures’ senior executive Miguel Alvarez now heading Statkraft’s wind and solar Iberia business (see Statkraft Builds Team For RE On Iberian Peninsula).
Last week, Foresight Group LLP announced a 10-year PPA with EDF Trading Ltd (EDFT) of the EDF Group for the 50 MW subsidy free Guzman Solar Power Plant in Spain’s Puebla de Guzman in Huelva. For the private equity investor this is its ‘largest’ subsidy-free energy infrastructure investment in the region. The project is currently under construction with completion due in Q1/2020 when it is expected to generate 85 GWh of solar power annually.
In September 2019, Iberdrola signed a PPA with Heineken for solar power supply from 50 MW Andevalo PV Plant to be set up within a wind power complex in Puebla de Guzman region (see Iberdrola PPA With Heineken For 50 MW PV Project).