Iberdrola signs PPA for 391MW Spanish solar project with Kutxabank

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Credit: Iberdrola

Iberdrola has signed a 10-year power purchase agreement (PPA) for a 391MW solar project in Spain with Grupo Kutxabank, in what it claims to be the first contract in the world of this kind to be signed between an energy company and a bank.

The Nuñez de Balboa solar facility will provide all the energy under the PPA. The plant will be located in Usagre, Badajoz-Extremadura, and could be Europe's largest PV project once complete.

Grupo Kutxabank will use the electricity at all of its banking premises and branches across Spain.

A Kutxabank statement said: “The agreement represents another step for Kutxabank in its ongoing efforts to mitigate its carbon footprint from a business activity where the impact is only very small because of its very nature, but which it also seeks to offset with an array of different initiatives”.

Read Next

April 22, 2021
A round-up of the latest news from the US solar sector, including distributed solar specialist SunPower's return to large-scale power systems, panel maker Maxeon's share offering, and developer National Grid Renewables' PPA with Hershey, Home Depot and NRG.
April 21, 2021
International renewables developers are rushing to secure projects in Brazil before the government takes away subsidies for new solar and wind farm installations next year.
April 21, 2021
Independent power producer Opdenergy has mandated BBVA as the underwriting entity for financing the development and construction of its 725MWp backlog of solar projects in Spain.
April 21, 2021
Ingka Group, a retailer that runs the majority of IKEA stores, has allocated an additional €4 billion (US$4.8 billion) to invest in solar and wind plants.
April 20, 2021
A new PV manufacturing start-up, Greenland, is collaborating with Fraunhofer ISE and Bosch Rexroth on a 5GW highly automated and integrated manufacturing facility in Spain.
April 20, 2021
Amazon has announced plans for nine new utility-scale solar and wind projects in the US, Canada, Spain, Sweden and the UK, putting it on track to powering all its activities with renewables by 2025.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021