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October 28, 2020

Statkraft to purchase renewable energy from BayWa r.e. in Spain

European renewable energy company Statkraft has signed a power purchase agreement (PPA) with BayWa r.e. in Spain for the Tordesillas solar farm.

European renewable energy company Statkraft has signed a power purchase agreement (PPA) with BayWa r.e. in Spain for the Tordesillas solar farm.

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As per the ten-year PPA, BayWa r.e. will supply 100% renewable energy to Statkraft , which will be supplied to its Spanish and pan-European customers.

The PPA will come into effect from next year.

Statkraft South European Origination vice-president Simon Kornek said: “This new PPA with BayWa r.e. once again demonstrates that it is possible to contribute to the decarbonisation of the Spanish electricity market, even during these challenging times of Covid-19.

“We are proud of being one of the market’s leading suppliers of green energy and we will continue contributing to the development of renewable energy assets in Spain.”

Additionally, the PPA will support Statkraft ’s efforts to reduce carbon emissions in Europe in the context of the European Green Deal.

Located in Tordesillas in central Spain, the 41.7MW solar facility will be commissioned in the first half of next year.

Once operational, the facility is expected to generate nearly 74GWh of solar energy which will save over 19t of carbon emissions.

The clean energy generated by the solar farm will be sufficient to meet the average annual consumption of approximately 18,800 households in Spain.

BayWa r.e. Projects España SLU official Fernando Reina Muñoz said: “We’re delighted to collaborate again with Statkraft . This milestone represents our third subsidy-free solar project in Spain, which is an important and growing market.

“We’re excited to see ever more subsidy-free renewable projects, which are helping pave the way towards the global energy transition.”

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Enter your details here to receive your free Report.

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