Foresight’s Spanish PV duo bags 10-year PPA with ArcelorMital

Facebook
Twitter
LinkedIn
Reddit
Email
The 10MW cluster near Toledo is due to mark its launch in Q2 2019

Foresight’s zero-subsidy solar portfolio has reached 116MW this week after PPA documents were signed for two plants near Toledo, central Spain.

The deal struck with ArcelorMittal will see power flow from Foresight’s 10MW PV cluster to the corporate’s Spanish steel mills for 10 years, in return for an undisclosed fixed price.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Escalonilla Norte and Escalonilla Sur, each boasting 5MW capacity, have been under construction since EPC contractor Solaer Group broke ground in June 2018.

With the launch of operations scheduled between April and June, each is designed to produce some 8.6GWh every year.

Foresight – which was assisted by Watson, Farley & Williams and Our New Energy in the PPA negotiations – billed the deal as the first 10-year, fixed-price corporate PPA to be signed in Spanish soil.

As noted by Foresight director Carlos Rey in a statement, the deal is the third the firm has sealed in Iberia to feature a 10-year period.

With a global solar portfolio of 1.1GW, the UK-headquartered investor is not alone in having tapped unsubsidised projects in Spain and Portugal. From BayWa r.e. to Audax, developers and investors are busy deploying zero-subsidy farms and learning to navigate complex PPA negotiations.

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

September 15, 2025
Sunrun has priced a securitisation of leases and power purchase agreements, taking its non-recourse debt capital raised in Q3 above US$1.5 billion. 
September 15, 2025
Norwegian energy firm Statkraft has agreed to divest a portion of its renewable energy portfolio to Serentica Renewables.
September 15, 2025
UNSW spin-out company Lab360 Solar has been awarded funding from ARENA to bring its drone-based PV inspection technology to market.
September 15, 2025
Vikram Solar has secured a contract to supply 200MW of modules to AB Energia, a domestic solar engineering, procurement, and construction (EPC) solutions provider. 
September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines