Statkraft has signed to power purchase agreement with Foresight Solar to take power from the latter’s almost 100MW Spanish solar portfolio.
The ten-year off-take deal covers three subsidy-free greenfield assets located in the Andalusia region that were acquired by Foresight on 31 December 2020.
The portfolio is on track to begin operations in June 2022.
The PPA provides Foresight Solar with a 10-year fixed price for around 70% of the portfolio’s annual production and increases the company’s earnings visibility, it said.
Foresight director Ross Driver said: “We are delighted to have secured this PPA with Statkraft.
“It secures an attractive level of contracted revenues for our Spanish portfolio over a 10 year period and represents another significant milestone in the development of Foresight Solar’s international operations.”