April 2 (Renewables Now) - UK-based infrastructure and private equity firm Foresight Group LLP will be selling the output of two Spanish unsubsidised solar farms totalling 10 MW to ArcelorMittal Energy under a 10-year power purchase agreement (PPA).
Electricity will be supplied by the Escalonilla Norte and the Escalonilla Sur solar farms of 5 MW each, located in Toledo. The farms are connected to the grid and ready to commence operations in the second quarter of 2019, the UK investor said Tuesday.
Each solar park is expected to produce approximately 8.6 GWh per year.
The agreement with ArcelorMIttal is Foresight’s first corporate fixed-rate PPA in Spain. The UK firm holds a portfolio consisting of 116 MW of subsidy-free solar schemes in the Iberian Peninsula.
"The execution of our third 10-year PPA in the region is further proof of a robust future for the Iberian unsubsidised market," said Carlos Rey, Director at Foresight.