October 7 (Renewables Now) - Portuguese energy conglomerate Galp (ELI:GALP) and Spain-based solar developer and operator X-Elio have entered into a long-term framework agreement that envisages signing off-take contracts for 200 MW of solar power.
Under the terms of the deal, Galp will sign a number of synthetic power purchase agreements (PPAs) that cover an annual supply of 358 GWh during a 12-year period.
The contracted power will come from Spanish projects that are currently being developed by X-Elio. Their output will be progressively allocated to Galp’s commercial activities from June 2020 onwards, it said.
The electricity that will be purchased is enough to meet the annual demands of 140,000 local homes, according to the announcement.