Energy major Statkraft has signed a long-term power purchase agreement with Spanish solar IPP Solaria.
The agreement will see Statkraft procure power from five assets in Spain developed and held by Solaria with a total generation capacity of 252MW.
It incorporates three assets in Castilla y Leon and two in Castilla La Mancha, and the five assets are expected to generate as much as 500GWh each year.
Further details surrounding Solaria’s portfolio in Castilla y Leon have emerged in recent months, including the inclusion of panels from Yingli and that they will be additionally underwritten via a PPA with Swiss energy trader Alpiq.
The solar farms are to be energised throughout 2020, Statkraft said, and the PPA deals have been signed on ten-year terms.
Carsten Poppinga, senior BP for trading and origination at Statkraft, said the company is to use the power to cement its position as a leading supplier of renewable energy to major industrial customers in Iberia.