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.
The prospects and challenges of solar's new era in Europe and beyond will take centre stage at Solar Media's Solar Finance & Investment Europe (London, 5-6 February) and Large Scale Solar Europe 2020 (Lisbon, on 31 March-1 April 2020).