X-Elio secures Portuguese oil and gas offtaker for 200MW of Spanish PV

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Image credit: Anpier

X-Elio has enlisted a Portuguese oil and gas group as offtaker to a large-scale solar pipeline in Spain, adding to the country’s bustling PV power purchase agreement (PPA) scene.

Lisbon-headquartered Galp said this week it will procure power from a 200MW portfolio X-Elio is working to deploy at undisclosed locations across Spain.

The oil and gas group has opted to become an offtaker via several synthetic PPAs, a hedged deal where offtakers do not buy power directly from plants and instead trade into the market.

The PPAs, Galp explained in its statement, will run for 12 years and will underpin the supply of a “total notional amount” of 358GWh of solar electricity every year.

The clean energy volumes will be gradually passed on to Galp’s customers from June 2020 onwards, the firm added.

X-Elio’s under-development 200MW pipeline is designed to generate enough output to cover the needs of 140,000 households, bringing 19 kilotonnes in CO2-equivalent annual savings.

The developer’s deals add to numerous PPA milestones in Spain this year, joining projects from the likes of Iberdrola, BayWa r.e., Statkraft, Encavis, Solarcentury and others.

For X-Elio, efforts to develop a 200MW PV pipeline follow work this year to deploy a separate 311MW batch in Spain, as well as a further 500MW in the US alongside ReneSola.

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).

Read Next

September 20, 2021
Australian companies plan to spend AUS$5.1 billion (US$3.7 billion) on offshore gas exploration over the next six years, which is enough to develop 2.5GW of renewables capacity and generate close to 5,000 jobs
September 17, 2021
US utility company Dominion Energy Virginia has proposed 15 new energy projects totalling 1GW of power for the state, which Dominion Energy claimed was the largest group of projects to be submitted to the Virginia State Corporation Commission (SCC)
PV Tech Premium
September 15, 2021
Record-breaking power prices across Europe have turned the spotlight on the role fossil fuel plants play in generating electricity and how the transition to renewables-plus-storage could lower consumer bills.
September 14, 2021
Polish renewables developer PAD-RES is to be acquired by a joint venture established by real estate investor Kajima and private equity firm Griffin Real Estate.
September 7, 2021
A round-up of the latest news from the US solar market, including developments from Canadian Solar, EDF Renewables and Altus Power
September 7, 2021
Supply disruptions in the coal and gas sectors have contributed to record electricity costs across Europe, leading to calls for more support for renewables generation to mitigate future price rises.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021