Germany-based energy company Energie Baden-Württemberg (EnBW) has signed power purchase agreements (PPAs) for 150MW of a solar park project being built in Andalusia, Spain.
The ten-year PPAs have been signed with wind and solar plant operator Blue Elephant Energy (BEE).
In a press statement, EnBW said: “PPAs make it possible to build and operate unsubsidised renewable power plants and are therefore a key tool of the energy transition.”
BEE’s solar park project comprises three PV plants, each with a 50MW capacity. The project will have an eco-friendly power production capacity of around 315GWh a year.
This capacity is enough to power around 95,000 households and reduce carbon dioxide emissions by around 96,000 metric tonnes a year.
The three solar parks, currently under construction, are planned to be connected to the grid in the second quarter of next year.
BEE chief investment officer Tim Kallas said: “In the rapidly growing market for green electricity, power purchase agreements secure predictable revenues and enable us to realise projects that are not government-funded.
“That is why we are pleased to realise our first unsubsidised solar power project in Spain, together with EnBW, while contributing to a sustainable and clean energy supply on the Iberian Peninsula.”
EnBW trading division head Peter Heydecker said: “As EnBW’s trading division, we connect developers and operators of renewable power plants with the market [through] tailor-made products and services.
“We are pleased that we are now also able to contribute our expertise to the Spanish market.
“With our long-standing experience on both the generating and trading side, we see good marketing opportunities in the Spanish wholesale market as well as for customer-specific solutions.”
In 2019, EnBW signed a 15-year deal with Energiekontor to purchase 100% of the power produced at a solar park in Germany at a fixed price.