Spanish renewables company Grenergy Renovables SL (BME:GRE) has inked a long-term power purchase agreement (PPA) for about 140 GWh per year from its Gran Teno solar farm in Chile, which is scheduled to be launched in December.
The deal was signed with an unnamed “international utility company, with Investment Grade credit rating and presence in the Chilean market.” It has a 12-year term and will come into force when the 241-MW solar farm reaches its commercial operation date (COD).
The agreement announced on Thursday marks the second such contract for the Gran Teno facility, following a separate PPA announced last year.
With the two deals, Grenergy has now contracted 285 GWh of the annual production of the Chilean site, which is expected to generate a total of 477 GWh per year.
