Tuesday 2 April 2019

Foresight and ArcelorMittal enter into solar PPA in Spain

Foresight and ArcelorMittal have entered into a 10-year power purchase agreement (PPA) for two Spanish subsidy-free solar farms.

The energy investor and the steel producer claim the deal is the first corporate 10-year fixed price PPA to be agreed in the country.

The two grid-connected facilities are expected to become operational in the second quarter of 2019 and are expected to each generate around 8.6GWh of renewable electricity every year.

Edouard Oberthür, Head of Long Term Contracts Natural Gas, Power and Power Plant projects at ArcelorMittal, said: “As a large consumer of electricity in Europe, ArcelorMittal is very proud to sign these PPAs in order to supply our Spanish steel mills with a competitive and carbon dioxide-free electricity supply”.

Octopus has signed a five-year PPA in Italy with Shell Energy Europe.