April 10 (Renewables Now) - BayWa r.e. renewable energy GmbH announced today it has entered into a power purchase agreement (PPA) with Norwegian energy group Statkraft for the 170-MWp Don Rodrigo solar project in Spain.
The renewables unit of German diversified group BayWa AG (ETR:BYW6) notes in its announcement that this is one of the first solar projects of this size in Europe to not rely on any subsidies.
“The fact that we can implement such a project without state funding is largely thanks to the continual improvement of system design and building costs,” commented Benedikt Ortmann, managing director of BayWa r.e. Solar Projects GmbH.
The project is located south of Seville, BayWa said, adding that it has already initiated preliminary work on the scheme. It expects to commission the facility at the end of 2018.
The 15-year contract for Don Rodrigo also marks Statkraft’s entry into the Spanish market as a PPA provider.