In 2022, Spain contributed almost a third of Europe’s total PPA capacity, which was an increase from 24% between 2018-2022 as the nation was late to enter the PPA market. Spain is considered one of the most important European countries when it comes to solar PPAs. In 2022, Spain approached the European Investment Bank (EIB) to endorse PPAs and allow the country to further its growth in this area, which already consists of 1% of Spain’s GDP. Spain has a huge solar potential and this is reflected in its PPA numbers, accounting for over 61% of total power contracted in Europe in 2021. In this article, we will discuss the Spanish renewable energy developers offering PPAs in a country that presents attractive PPA opportunities due to relatively stable prices compared to other European locations.
1) Acciona – Global renewable energy developer based in Madrid
According to Energy Intelligence, the Madrid-based group is one of the largest 100% renewable energy corporations. Acciona has an installed capacity of over 11GW from their wind, solar, hydrogen, storage, and biomass projects. By 2025, the Spanish group aims to become one of the world leaders by accomplishing their Sustainability Master Plan which is based on the following principles: planet-positive, people-centric, exponential leadership, and integration to transform. Acciona plans to have an installed capacity of 17GW by 2025 and 33GW by 2030. In February 2023, the group announced a 10-year PPA with Fortia, an energy management platform for large industrial consumers. Acciona’s 117MW wind project will supply 254GWh per year to Fortia, in addition to the PPA signed in 2022 the deals will represent the largest corporate PPA with physical delivery signed in Spain.
2) Esparity Solar – Solar developed based in Valencia
The Valencian solar group specializes in solar development and providing affordable energy for Spanish consumers. Esparity has developed, constructed, or financed over 4GW of solar projects worldwide. Esparity aims to expand its capacity in Spain with 9 projects to be developed across the country, with an installed capacity of 2.6GW which requires an investment of €320m. Ultimately, the group plan to have an installed capacity of 2.6GW in Spain which provides plenty of opportunities for corporate PPAs.
3) Energia Aljaval – Wind, Solar, and Hydrogen developer based in Cordoba
Energia Aljaval is a specialist in project development, engineering, and PPA negotiation for their renewable assets which include solar, wind, and hydrogen. The Cordoba-based group is active in Mexico, Argentina, Italy, and Spain. Currently, the Spanish group is developing over 50 solar plants which will have a combined installed capacity of 4GW across various countries.
Image Source: Gustavo Quepon via Unsplash (08.02.2023)
