Aquila Capital inks PPA with Alpiq for 50 MW of Spanish solar

German asset manager Aquila Capital Investmentgesellschaft mbH has signed a power purchase agreement (PPA) with Swiss energy producer and trader Alpiq to offload electricity from its nearly-completed 50-MW solar farm in Spain.

The five-year agreement will start running in the summer of 2021 and will cover the production from Aquila Capital’s La Cabrita solar farm in Almeria, southern Spain, the parties said Thursday.

The plant is due to be connected to the grid and commence operation in the third quarter of 2021. La Cabrita’s expected yearly output is estimated at 87 GWh.

The La Cabrita project is part of Aquila Capital’s portfolio in Spain worth 2.3 GW, according to the release.

“This is the second long-term power purchase agreement that we have signed in Spain and we continue to work to close more agreements with this type of commercialisation as we believe they have a very attractive scheme, both for us and for the buyer,” Marcos Dominguez, Director Power Markets Iberia at Aquila Capital, said in the statement.

Earlier this year, Aquila Capital closed a PPA with Norwegian energy company Statkraft AS for the output of the 50-MW Albeniz solar project, also located in Almeria.

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