Recurrent Energy inks solar PV PPA for 115MWp project in Spain

Facebook
Twitter
LinkedIn
Reddit
Email
The agreement marks GKN Automotive’s first renewable energy PPA in Europe. Image: Recurrent Energy

Solar manufacturer Canadian Solar’s renewables developer arm Recurrent Energy has signed a ten-year power purchase agreement (PPA) for a 115MWp solar PV project in Spain with automotive tech company GKN Automotive.

The PPA will allow GKN Automotive to source power from the Rey I solar PV project located in Seville, southern Spain. The project is under construction and expected to be fully operational by the first half of 2026. Recurrent Energy will own and operate the project upon completion.

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

Recurrent Energy said the Rey I solar PV project can produce 240GWh of power annually.

“Over the last 10 years, we have accumulated extensive experience in executing large-scale projects for global customers. We are grateful to GKN Automotive for entrusting us with their first PPA in Europe,” said Ismael Guerrero, CEO of Recurrent Energy.

Prior to this PPA, Recurrent Energy announced last month that it had powered a 360MW solar PV plant in Brazil.

Located in the northern state of Piauí, the Marangatu solar project was developed and built in 14 months by Recurrent Energy. Solar trackers for the PV plant were provided by Spanish tracker manufacturer Soltec. A long-term PPA has been secured for 75% of the energy produced by the PV plant.

Moreover, Recurrent Energy recently secured a €674 million (US$730 million) revolving credit facility to expand its European solar and battery energy storage system (BESS) portfolio. The company did not confirm the total capacity of either solar or energy storage that the facility will fund. It said that its total development pipeline constitutes 26GWp of solar PV and 56GWh of energy storage.

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again 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 in the U.S. out to 2030 and beyond.
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.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

July 16, 2024
Vietnam has planned to buy excess electricity generated by residential and commercial rooftop solar modules.
July 16, 2024
US-based software provider Aurora Solar has acquired solar design tool Lyra to grow its business in residential plan set services and automation.
July 16, 2024
US energy project developer Avangrid has begun to produce power from the 321MWdc/238MWac True North solar project in Falls County, Texas.
Premium
July 16, 2024
The foundations of a solar project offer multiple opportunities for driving down system costs. Arash Yazdani of PRI Engineering describes some of the key steps involved in investigating the specific conditions of a project site and developing a foundation design that will stand the test of time.
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
French renewable energy firm GreenYellow has signed an agreement with supermarket giant Carrefour to install over 350MW of solar canopies above the latter’s car parks across France.

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
Solar Media Events
October 15, 2024
Santiago, Chile