Spanish developer Matrix Renewables has signed a 10-year 102MW solar PV virtual power purchase agreement (VPPAs) in Spain with science and technology company Merck.
Consisting of three solar projects in the northern Spanish region of Castille and Leon, the offtake is expected to start in 2025 and provide nearly 200GWh of renewable electricity per year.
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Matrix continues to increase its presence in Spain, as it recently began operations of its Rocío solar projects, with a combined capacity of 129MW and co-located with a battery energy storage system, in the southern Spanish region of Andalusia.
Chris Matthews, managing director, Europe and Latin America at Matrix Renewables, said: “Matrix Renewables is pleased to announce this deal with Merck in which we are supplying cost-effective clean energy to Merck’s operations through our portfolio of solar projects in Spain. We very much look forward to our long-term partnership with Merck, and to supporting Merck in meeting its global corporate sustainability goals.”
Energy and sustainability advisory company Altenex Energy worked with Merck on the agreement, facilitating the VPPA process and providing support in contract analysis and negotiation.
Backed by asset manager TPG, Matrix Renewables has a current renewables portfolio of 14GW across Europe, North America and Latin America.
In the US, Matrix recently started construction on a 200MW solar project in the state of Idaho, a project for which the company acquired a controlling interest in August 2023.