April 10, 2018 / 3:30 PM / 2 months ago

Norway's Statkraft enters Spain's power market with 170 MW solar deal

OSLO, April 10 (Reuters) - Norwegian utility Statkraft is entering the Spanish market after signing a 15-year-long power purchase agreement to buy electricity from a subsidy-free Spanish solar plant, it said on Tuesday.

The plant, a 170 megawatt (MW) facility that will be commissioned by end of 2018, is one of Europe’s first solar projects of this size to be built without state aid and will be developed by Germany’s BayWa Renewable Energy.

Statkraft plans to supply the electricity via bilateral contracts to commercial companies and also through the wholesale market, where other traders can purchase it from Spain’s power exchange, said a company spokeswoman.

Statkraft, a major hydropower producer in Norway that also runs an international markets business, will add the solar farm’s output to its portfolio of 15,000 MW trading capacity, the firm said.

BayWa’s solar plant will generate roughly 300 gigawatts of electricity every year, enough to power about 93,000 households in Spain.

Statkraft did not disclose the value of the agreement. (Reporting by Lefteris Karagiannopoulos; Editing by Adrian Croft)

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