Spanish solar energy company Solaria Energía y Medio Ambiente, S. A. has announced in a filing with the National Securities Market Commission (CNMV) that it has secured its second solar PPA with Spanish oil company Repsol.
Solaria Energía said the physical PPA will have a duration of 7 years since the commissioning of the solar facilities, without providing more details on the 50 MW of solar that will provide Repsol with power. “With this agreement, the total power contracted through PPAs between Solaria and Repsol reaches 102 MW”, the company stated in the filing.
“Our excellent competitive position makes us the ideal partner for many large companies that want to offer their customers green energy at a very competitive price in Spain,” said the company’s president Enrique Díaz-Tejeiro.
Solaria Energía had a solar power plant portfolio of around 55 MW at the end of 2017. Recently, however, it announced a €600 million investment in a 1.3 GW Spanish PV project pipeline. It added that it will roll the pipeline out over the next three years: 200 MW in 2018; 450 MW in 2019; and 650 MW in 2020. Overall, the company has a global PV pipeline of 2.3 GW spanning Spain, Portugal, Italy, France, Mexico, Chile and Brazil.
As for Repsol, it recently took over Valdesolar Hive, a special purpose company, which owns a 264 MW solar power project in Valdecaballeros, in the Spanish southern region of Extremadura, for approximately €210 million. In July, it also announced a partnership with Spanish energy company and European transmission system operator, Enagás, under which they will produce renewable hydrogen.