UK’s Foresight, ArcelorMittal ink 10-MW solar PPA in Spain

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.

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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.