Statkraft to offtake power from 98.5-MW Spanish portfolio of Foresight Solar Fund
Solar park in Spain. Author: Som Energia Cooperativa. License: Creative Commons. Attribution 2.0 Generic
UK’s Foresight Solar Fund Ltd (LON:FSFL) has signed a 10-year power purchase agreement (PPA) for a 98.5-MW Spanish solar portfolio with Norwegian renewable energy generator Statkraft AS.
Foresight Solar Fund acquired the portfolio consisting of three subsidy-free greenfield projects in Spain’s Andalusia region at the end of 2020. At the time of the acquisition, the fund said a long-term PPA was expected to be signed soon with an unnamed European energy supplier.
The portfolio remains on track to come onstream in June 2022, Foresight Solar said on Monday.
The deal with Statkraft means the portfolio will have a 10-year fixed price for around 70% of its annual generation.
Foresight Solar Fund has a portfolio of 59 assets, mainly in the UK, including its first battery storage investment, as well as in Australia and in Spain, where it owns four assets totalling 125 MW. Overall, the company’s portfolio has a total net peak capacity of 1,019 MW.