Statkraft and Aquila Capital sign 5-year PPA for 50MW Spanish park

Renewable energy firm Statkraft and Aquila Capital, the German real asset investment manager, have signed their first PPA in Spain for the Albeniz solar plant located in Andalusia on behalf of Aquila’s client.

This is a 5-year power purchase agreement starting in 2022 with an innovative price structure in which Aquila Capital will provide Statkraft with 100% green electricity at competitive price levels. 

The construction permit was issued in December 2020 and construction works started in early January 2021.

The Albeniz solar park is located in Almería, South-Eastern Spain, and it will have a total installed capacity of 50 MW. Once it is connected to the grid, the plant will produce 103 GWh of solar energy per year of which Statkraft will offtake a majority of its electricity output. The power generated by this solar plant will save 32,960 tonnes of CO2 emissions annually.

Statkraft and Aquila Capita have previously partnered in Nordic countries resulting in important operations such as Aquila’s acquisition of Småkraft.

Simon Kornek, vice president of South European Origination, said: “The power generated by the solar plant Albeniz will be used to supply our industrial and commercial customers in Iberia and in Europe more widely.

“In Statkraft, we are convinced that the private PPA market will continue to play a major role to respond to the customer-specific demands of green energy buyers. Thus, we are fully committed to help our European customers and its supply chains transform to 100% renewable power and deliver on their sustainability targets.”

“We are delighted to be able to strengthen our partnership with Aquila Capital outside of the Nordic countries. This new deal will allow us to continue expanding renewables in the Iberian market with the help of one of our most long-standing partners. Spain presents great opportunities when it comes to the development of renewable energy and we believe that the provision of PPAs such as this one is crucial to make sustainable energy more accessible for all sectors.”