Grenergy has signed a long-term power-purchase agreement (PPA) with a major electricity group for some 200 gigawatt hours of solar per year.
Under the agreement, Grenergy will sell part of the energy produced by its Belinchón solar farm in Spain to this electricity-generating, marketing and distribution company that has a strong presence in the Iberian market.
Located in the municipality of Barajas de Melo in Cuenca, the Belinchón solar farm will have an installed capacity of 150 megawatts peak, and an estimated production of 315 gigawatt hours per year. The company expects it to come into operation in 2022, although the agreement will not be activated until March 2023.
Once operational, it is expected to generate enough energy to supply electricity to 90,000 homes and save 116,865 metric tons of carbon dioxide per year.
“This transaction demonstrates the company's structure and capacity to close long-term power purchase and sale contracts and is anot