Solar developer Solaria has signed a ten-year power purchase agreement (PPA) with energy trader Axpo Iberia to support three of its utility-scale solar farms in Spain.
The deal will see Axpo procure all power generated from a completed project in Castilla-La Mancha and two further projects, located in Castilla y León, which are to be connected to the grid next year.
The three projects have a combined capacity of 150MW and are forecast to generate around 240GWh of electricity each year.
Solaria – not to be confused with the upstream solar manufacturer of the same name – has lofty targets for the Spanish market, aiming to deploy more than 3GW of utility-scale solar from a pipeline exceeding 6GW. It intends to become the market-leading independent power producer (IPP) in Spain within the next three years.
Enrique Diaz-Tejeiro, president at Solaria, said the agreement showed that the company remained capable of signing major PPAs with “Tier 1 players such as Axpo” in spite of challenging circumstances posed by the pandemic.
“Likewise, we continue to focus on selling the energy from our photovoltaic plants at a long term fixed price, always seeking the greatest stability for our future income,” he said.