Norwegian utility Statkraft and independent Spanish energy supplier Fortia Energia have signed a long-term renewable power purchase agreement (PPA) for large industrial customers in Spain and Portugal.
Statkraft will supply 3TWh of electricity over 10 years to Fortia, which manages power supply for companies in the steel, cement, metallurgy, chemical, paper and industrial gases sectors in the Iberian market.
The energy will be sourced from Statkraft's Spanish renewables portfolio which primarily consists of new wind and solar projects currently under construction.
“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 Fortia managing director Juan Temboury.
“We very much look forward to taking that next step in the energy transition together with our customers.”
Fortia has been operating in wholesale markets for more than ten years and, with annual sales of 11TWh on average, claims to be the largest independent supplier in the Iberian electricity market.
Fortia said the agreement marks the start of a portfolio that it expects to increase substantially in the coming months.
Statkraft has already closed several PPAs for fully merchant projects as well as those that were successful in Spanish auctions.
“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,” said Hallvard Granheim, executive vice president markets & IT at Statkraft.
