Grenergy Renovables, the company that produces energy from renewable sources and a specialist in the development, construction and management of photovoltaic and wind projects, has sealed a long-term energy sale agreement (PPA) of approximately 200 GWh per year.
In this way, Grenergy will sell part of the energy produced by its Belinchón solar park over a 12-year period to this electricity generating, trading and distributing company with a strong presence in the Iberian market and with a BBB rating by Fitch.
Located in the Cuenca municipality of Barajas de Melo, this park will have a 150 MWp installed power and an estimated production of 315 GWh per year. The company foresees that it will enter into operation during the next year 2022, although the agreement will not be activated until March 2023. When it is operational, it is estimated that it will generate enough energy to give electricity supply to 90,000 homes, which represents a saving of 116,865 tons of CO2 per year.
To optimize the excellent solar resource in this area, this solar park will use bifacial photovoltaic modules that increase their production by up to 15%. It is an innovative technology that captures radiation on both sides to make the most of the surface of the plates.
However, the Belinchón plant is not the only one that Grenergy has underway in Spain, and specifically in the province of Cuenca. Precisely here, the company is also building Escuderos, one of the largest solar parks in Spain which will have a total power of 200 MW and is expected to be connected in the next few days.
In this sense, Grenergy also has experience in signing PPAs in our country. Thus, the current PPA is added to the one already signed with Galp through a contract that will progressively incorporate electricity into the commercial activities of the energy company also over a period of 12 years.
According David Ruiz de Andrés, CEO of Grenergy, “This operation demonstrates the structure and capacity of the company to close long-term power purchase contracts and represents a further step in meeting our goal of reaching 1.5GW in operation by 2022.”