Falck signs PPA with Holaluz for 10 MW of Spanish wind

Italian company Falck Renewables SpA (BIT:FKR) said today it has signed a power purchase agreement (PPA) for the sale of 75% of the electricity generated by a 10-MW under-construction wind park.

Spanish renewable power retailer Holaluz will buy the output of the Carrecastro wind farm, located in Tordesillas and Velilla municipalities, Castilla y Leon.

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This seven-year agreement, signed by Falck's subsidiary Energia Eolica de Castilla SL, is one of the first of its kind for a wind project in Spain and represents a milestone for the sector, the company stated.

Scheduled to commence operations in the last quarter of 2019, Carrecastro is expected to generate approximately 34 GWh of clean energy per year, enough to meet the consumption of some 10,000 homes.

In addition to its wind portfolio, Falck has 600 MW of photovoltaic (PV) plants under development in the Iberian country, it noted.