Powertis, Total team up for 1GW subsidy-free Spanish solar push

Facebook
Twitter
LinkedIn
Reddit
Email
Powertis told PV Tech the pipeline will be mostly deployed across Spain's Levante region, encompassing Valencia and other areas. Image credit: Dimitry B / Unsplash

Yet another major subsidy-free solar pipeline is in the works in Spain, following the announcement of a joint push between a local developer and a foreign oil and gas (O&G) major.

Over the weekend, Madrid-headquartered Powertis said it will co-develop a 1GW PV pipeline in Spain alongside Total, the increasingly solar-keen French O&G group.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

In a statement, the PV specialist said the 1GW will be deployed under a joint venture with Total and is expected to require overall investments of €700 million (US$764 million).

Contacted later by PV Tech, Powertis confirmed the 1GW pipeline is all new solar and will be fully developed without subsidies or other form of state support.

The 1GW portfolio will be split between 20 PV projects, Powertis told this publication, adding that the largest installation is set to boast an individual capacity of 200MW.

Quizzed over potential project locations, the developer explained the pipeline will be mainly deployed in Spain’s Levante region, which encompasses Catalonia, Valencia and other east-coast areas.

Powertis said PPAs will be jointly sought with Total, which will retain the option to secure the power produced of these PV plants. However, the firm would not elaborate on the current state-of-play of specific PPA negotiations nor on any plans for merchant sales once PPAs expire.

The firm’s latest subsidy-free play follows its efforts to build a footprint in its home market of Spain, where it claims to have amassed a 950MW PV portfolio at various stages of development.

In Brazil – Powertis’s other top solar market – the firm is working on a 765MW portfolio, funded by top national banks BNDES and BNB and split into four individual projects.

As for Total, the joint venture with Powertis emerges after a wave of solar plays at home in France – where it recently refinanced a portfolio – and abroad, with a move this month to buy a 50% stake in the renewable energy unit of Indian group Adani.

The French group’s renewable business is part of an Integrated Gas, Renewables & Power unit that generated a US$2.3 billion in net operating income last year, down from the US$7.5 billion Total recorded for its O&G exploration and production.

The prospects and challenges of solar's new era in Spain and the rest of Europe will take centre stage atand Large Scale Solar Europe 2020 (Lisbon, on 31 March-1 April 2020).

26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 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.
11 March 2025
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

July 22, 2024
Soltec has launched 4x4, a new foundation option for its SFOne range of trackers that aims to improve the flexibility of the range.
July 16, 2024
North America is expected to be the major market for solar trackers in the upcoming years driven by increased installations in the US.
July 16, 2024
Spanish independent power producer BNZ has appointed renewables asset manager Exus Renewables as asset manager for a 350MW solar portfolio in Spain.
Sponsored
July 12, 2024
PV Tech spoke with Helena Li at the Intersolar Europe 2024 event, about how Trina is looking to ensure effective operations.
July 12, 2024
China started conducting a trade and investment barrier investigation on the measures used in the EU’s Foreign Subsidies Regulation (FAR).
July 12, 2024
Swiss Utility BKW Energie AG has sign a power purchase agreement with food and beverage company Nestlé in Germany.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA