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.
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.
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Solar & Storage Finance Asia returning to Singapore for its 5th edition, will be the meeting point for developers, financiers and investors across the region. Explore in depth the opportunities of the different countries via case studies, business and financial models that will foster growth in the region with particular focus on Thailand, Philippines, Indonesia, Taiwan, Korea, Cambodia, Singapore, Malaysia & Vietnam. The programme has been designed to enable you to win business and understand new opportunities in the market. Key topics include floating solar, project finance for PPAs, modernization of the grid and strategies for structuring and designing hybrid deals.
The Intersolar organizers have teamed up with SolarPower Europe and Spanish Solar Association, UNEF, to shed light on Europe's new solar boom market – Spain. Intersolar Summit Spain takes place in Barcelona on June 18, 2019. We are going to discuss the PV market development in Spain, the chances and opportunities of the announced grid parity, corporate sourcing models, regulation and policy issues. The event will bring together the key stakeholders in this market, which is being driven by auctions and increasingly by subsidy-free corporate sourcing of solar power.