Spanish PV companies successfully signed a 120MW power purchase agreement

Holaluz said the three-year agreement will help Spain and Portugal develop a number of photovoltaic power plants with a total installed capacity of approximately 190 million kWh and a total investment of nearly 80 million euros ($91.16 million).

Holaluz sells the electricity generated by these power stations to the wholesale electricity market through a representative agreement.

There are already two power plants already under construction, located in Toledo (8MW) and Oporto (3MW). The other three power stations are scheduled to begin construction from May to September this year, located in Castillay Leon (50MW), Andalucia (40MW) and Aragon (12MW).

The two companies are also studying the possibility of increasing the size of their PV installations to cover 240 hectares of land between Spain and Portugal.

Holaluz's goal is to reach 1,000 MW in the power purchase agreement by the end of 2021. In November 2018, the company signed a three-year PPA agreement with RaiolaFuture Engineering to build a 20 MW solar farm on the Iberian Peninsula.

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