Search

Solar

Thursday
19 Dec 2019

Foresight to Feed EDF from Spanish Sun

19 Dec 2019  by Renews.BIZ   

Foresight Group is to supply electricity to EDF Trading from the 50MW subsidy-free Guzman solar farm in south-west Spain under a 10-year power purchase agreement (PPA).

Guzman, which is mechanically completed, is scheduled to become fully operational in the first quarter of 2020.

It is expected to generate about 85 gigawatt-hours of electricity a year.

Foresight director Carlos Rey said: “We are delighted to have agreed terms with EDF Trading for this fixed rate 10-year PPA for power generated by our 50MW solar plant in Puebla de Guzman, which is under construction.

“Securing the revenues for our largest subsidy-free energy infrastructure investment in the region with such a highly rated counterparty as EDFT is further validation of our investment model for projects with no government-contracted revenues.

“We are proud that our solar portfolio makes a valuable contribution to the fight against climate change and we remain committed to investing for a smarter future.”

EDF Trading chief commercial officer Philipp Bussenschutt said: “This is an exciting occasion for EDFT to provide wholesale market services in the unsubsidised solar market in Spain.

“We hope this will be the first of many opportunities for us to partner with Foresight.”

Foresight was advised on legal issues by Osborne Clarke, with ONE acting as strategic PPA advisor.

More News

Loading……