Madrid, 14 January 2021
Solaria has closed a long-term power purchase agreement (PPA), in its financial modality, with Shell Energy Europe B.V., for 10 years and a contracted power of 300 MW.
Solaria agrees major Spanish solar power supply deal with Shell
Shell Energy Europe B.V. (Shell) and Solaria, a leading Spanish solar photovoltaic power producer, have signed a major long-term power purchase agreement (PPA) for solar plants in Spain.
The electricity will be supplied from six solar projects that will have a combined installed capacity of 300 megawatts and produce around 570 gigawatt hours of electricity per year.
That is equivalent to the power consumption of more than 150,000 Spanish homes.
The projects will be connected to the grid progressively through 2021. The duration of the agreement is 10 years, with power deliveries starting upon commissioning of the facilities.
“This solar power purchase agreement will enable us to supply more clean power to our customers, while also helping to support the continued growth of renewable power in Spain,”
Rupen Tanna, General Manager for Power at Shell Energy Europe, said.
Darío López, Chief Operating Officer of Solaria, said: “It is an honour to start working with Shell, one of Europe’s leading energy companies, and we welcome the confidence they have shown in Solaria. This is one more step towards our goal of becoming a benchmark in the solar sector in Europe.”
Solaria is the leading PV development and power generation company in southern Europe, targeting 6.2 GW of installed capacity by the end of 2025.
Solaria has historically covered the entire solar energy value chain from wafer production to solar parks management. In recent years, Solaria’s business model has evolved, focusing exclusively in the activities of the solar energy value chain offering the higher margins and return for its shareholders, leveraging the experience of the company in the solar business. It has also evolved from being an industrial group to a power generation company.
About Shell Energy Europe B.V.
Shell Energy Europe B.V. provides business customers with innovative, reliable and cleaner energy solutions, helping them meet their energy needs and navigate through the energy transition. Through our portfolio of gas, power and environmental products, we offtake, trade, supply and enable our customers to get the most from their energy assets.
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