Spanish utility Iberdrola has signed a power purchase agreement (PPA) to supply retailer Alcampo with power from two solar PV plants with a combined capacity of 550MW.
Under the agreement, Iberdrola will supply 3,740GWh of electricity to Alcampo annually for 11 years. The power will come mainly from the 350MW Velilla solar PV plant in Palencia and the 200MW Tagus I-IV solar PV parks located in Alcántara (Cáceres).
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Prior to this agreement, Iberdrola signed an agreement with solar developer ib vogt for the construction of a 245MW solar PV plant in Sicily, northern Italy. A further 60MW could be added to the project, bringing its total capacity to 305MW. The companies are expected to begin construction at the new solar plant – called Fenix – in March, and once operational, will be Italy’s largest solar PV plant, according to the utility.
In January, Iberdrola and the sovereign wealth fund of Norway managed by Norges Bank Investment Management announced plans to invest more than €2 billion (US$2.17 billion) to add an additional 1.3GW of renewables in Spain and Portugal over the next two to three years.
A total of 674MW of solar and wind capacity was in the development stage, with the rest to be included in the coming months. Solar accounted for 60%, or about 404MW, of the capacity in the development stage, while wind accounted for the remaining 40%, or about 270MW of the capacity.