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A subsidiary of EDF and Foresight Group have signed a power purchase agreement (PPA) for electricity from a subsidy-free solar power plant in Spain.
The 10-year fixed price deal will see Foresight provide green power to EDF Trading (EDFT) from the 50MW Guzman plant. which is scheduled to start operating in the first quarter of 2020.
It is expected to generate around 85GWh of electricity every year and contribute towards Spain’s emissions targets.
Carlos Rey. Director at Foresight. said: Securing the revenues for our largest subsidy-free energy infrastructure investment in the region with such a highly rated counterparty as EDFT is further validation of our investment model for projects with no government-contracted revenues.
We are proud that our solar portfolio makes a valuable contribution to the fight against climate change and we remain committed to investing for a smarter future.
Foresight has more than £3 billion of energy infrastructure assets under management. including 190 renewable energy projects globally with a total generation capacity of 2GW.
