Iberdrola secures 10-year PPA for Spain’s largest PV project


From pv magazine Spain

Iberdrola and German pharmaceutical giant Bayer have signed a long-term power purchase agreement (PPA) for the 590 MW Francisco Pizarro solar plant in southern Spain, which is the largest PV installation currently under development in Europe.

According to the terms of the 10-year contract, Iberdrola will provide electricity to nine Bayer facilities in Spain. The facilities include three factories, five R&D centers, and the company's regional headquarters.

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Investment in the Francisco Pizarro solar project will amount to around €300 million ($355.9 million). The project is part of Iberdrola's 2 GW renewables investment plan in Spain's Extremadura region.

In late 2019, Bayer vowed to pursue a neutral-emissions footprint throughout the world by 2030.

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