Solaria Energia y Medio Ambiente SA has signed a power purchase agreement (PPA) with Norwegian state-owned utility Statkraft AS for 252 MW of solar parks in Spain, the latter announced.
The capacity will be provided by three solar photovoltaic (PV) projects, of which one is located in the Spanish region of Castile and Leon and two are in Castile-La Mancha, to be hooked to the grid progressively through 2020.
The PPA will have an initial duration of ten years following the commissioning of the solar parks. Together, the plants will generate around 500 GWh of clean power annually. The contracted volume equals the annual power consumption of more than 150,000 Spanish homes, Statkraft noted.
Last week, Solaria announced the signing of a 10-year PPA with Alpiq, of Switzerlandโs Alpiq Holdings AG (SWX:ALPH), for 105 MW of solar parks in Spain. Statkraft, on the other hand, sold 81 MW of wind projects in Scotland to Greencoat UK Wind Plc (LON:UKW).