Portuguese company Green Venture, through its subsidiary Simplewatt Unip Lda, has agreed to sell the output of its 40-MWp Valpacos solar park in northern Portugal to Statkraft AS under a power purchase agreement (PPA).
The Norwegian power company will acquire 70% of the solar plant's production, or around 340.5 GWh, for an 8.5-year period under the terms of the PPA, it said today.
The remaining 30% will also be purchased by Statkraft.
Located in the northern city of Valpacos, the solar park is capable of generating enough energy to meet the annual demand of 10,885 homes.
Statkfraft's Vice President of Southern European Origination, Simon Kornek, noted that this partnership allows the Norwegian utility to have a stronger presence in Portugal, where it has been active since 2021, and to consolidate its position as one of the most active players in the PPA market.