Published on January 23rd, 2019 | by Joshua S Hill0
Statkraft & FORTIA ENERGÍA Sign 3 Terawatt-Hour PPA
January 23rd, 2019 by Joshua S Hill
On Monday, Spanish industrial energy supplier FORTIA ENERGÍA and Nordic renewable energy producer Statkraft announced a Power Purchase Agreement (PPA) which will see Statkraft provide 3 terawatt-hours of renewable energy over ten years.
The two companies announced that Statkraft will supply 3,000 gigawatt-hours (GWh) of renewable energy to FORTIA ENERGÍA for the supply of large industrial companies in the Iberian market of Spain and Portugal, including the steel, cement, metallurgy, chemical, paper, and industrial gases sectors. FORTIA ENERGÍA is the largest independent power supplier in the Iberian Electricity Market with average annual sales of 11 TWh. This new PPA is part of the company’s largest efforts to provide the Iberian industrial industry with competitive, diversified, and balanced access to energy markets through new contract models. The Statkraft PPA is the first in a portfolio the company hopes to increase “substantially” in the coming months.
“With the signing of this agreement, FORTIA contributes to the development of renewable energy projects, while ensuring long-term supply for the energy intensive industry at competitive and predictable prices,” said Juan Temboury, Managing Director at FORTIA. “We very much look forward to taking that next step in the energy transition together with our customers.”
Statkraft, the leading PPA provider in Europe, will provide the electricity from its Spanish portfolio of renewable energy projects which are made up primarily of new wind and solar projects currently under construction.
“After having made an essential contribution to the development of the Spanish PPA market during last year, we are very excited to supply this electricity to the Iberian industrial market,” added Hallvard Granheim, Executive Vice President Markets & IT at Statkraft. “This contract underlines our leading position in the European PPA market and our commitment to powering major industrial companies across Europe with renewable energy.”
Statkraft currently boasts a portfolio of around 16 GW and is thus one of the largest managers of renewable assets on behalf of third parties in Europe.