Solar PPA For Grenergy’s Bifacial Project

• Grenergy has roped in an Iberian electricity utility as the offtaker for solar power in Spain for 12 years
• The utility will source 200 GWh annually from the 150 MW Belinchon Solar Project
• While the bifacial solar project is to come online in 2022, the PPA will come into effect from March 2023

Spanish renewable energy company Grenergy has announced signing a long-term power purchase agreement (PPA) for an under development solar power facility with 150 MW capacity in the country's Barajas de Melo in Cuenca region.

Signed with an unidentified 'major electricity group' in Iberia operating as a power generating, marketing and distribution company, the PPA will kick into effect from March 2023, even though the project is likely to enter operations in 2022.

While the project is designed to generate 315 GWh annually, the PPA with the offtaker is for 200 GWh annually. Grenergy plans to deploy bifacial solar modules for the Belinchon Solar Farm.

As the company aims to achieve an operational capacity of 1.5 GW by 2022, it has Escuderos Solar Park with 200 MW capacity set to come online over the next few days in Spain. In November 2019, it signed the company's 1^st solar PPA in Spain with Galp for 200 MW portfolio (see Grenergy Strikes Company's First Solar PPA In Spain).

Grenergy claims to have a global pipeline of over 6 GW in various stages of development in Europe and Latin America. It mainly operates in wind, solar PV and energy storage space.