NextPower III ESG Secures PPA on 210MW Portugal Solar Assets
NextEnergy Capital, a global solar specialist in the renewables sector, is delighted to announce the signing of a Power Purchase Agreement (“PPA”) in Portugal with Statkraft, a leading renewable producer in Europe’s energy market.
The three solar plants owned by NextPower III ESG, an international solar fund managed by NextEnergy Capital, have a total installed capacity of 210MW and are located in Santarém, in the municipality of Cartaxo, Casal do Paul, and Encarnado. Once energised the solar plants will produce an estimated annual production of 341GWh, the equivalent to powering an estimated 98,000 homes annual electricity consumption needs per annum.
Under this agreement, Statkraft will acquire the electricity production from these three photovoltaic solar plants currently under construction in Portugal, building on the existing successful relationship between NextEnergy Capital and Statkraft. This PPA follows an earlier PPA between NextEnergy Capital and Statkraft covering a 50MW Spanish solar asset owned by NextPower III ESG agreed in 2022.
Filinto Martins, Managing Director and Head of NextPower III ESG at NextEnergy Capital commented:
“This deal is thought to be one of the largest power purchase agreement operations in the history of Portugal, and NextEnergy Capital is delighted with this landmark achievement. PPAs provide long-term certainty of cash flows and we are pleased to continue the long-standing successful relationship that we have developed alongside Statkraft.”
Tiago Thomaz, Director of Origination at Statkraft for Spain and Portugal, said:
“We are very pleased to become a reference in PPAs now also in the Portuguese market, acting as an engine of renewable investments that the country needs to meet its climate objectives. Thanks to agreements like this and partners like NextEnergy Capital, the energy transition can become a reality, acting on both supply and demand, by allowing large industrial consumers to be provided with clean and affordable energy.”