Independent infrastructure and private equity investment manager Foresight Group has agreed a power purchase agreement with EDF Group subsidiary EDF Trading – the first 10-year fixed-price PPA to be agreed between the two parties.
The Guzman plant in Spain is mechanically complete and expected to become operational early next year when it will generate around 85 GWh annually.
Carlos Rey, Director at Foresight,said: “We are delighted to have agreed terms with EDF Trading for this fixed rate 10-year PPA for power generated by our 50 MW solar plant in Puebla de Guzman. We are proud that our solar portfolio makes a valuable contribution to the fight against climate change and we remain committed to investing for a smarter future.”
Philipp Büssenschütt, Chief Commercial Officer at EDF Trading, added:“This is an exciting occasion for EDFT to provide wholesale market services in the unsubsidised solar market in Spain. We hope this will be the first of many opportunities for us to partner with Foresight”.
London-headquartered Foresight is a leading renewables infrastructure investor with over £3bn of energy infrastructure assets under management. It currently manages more than 190 renewable generation assets globally, with a total generating capacity of 2 GW.
In solar, it has invested in over 100 plants and has more than 1.3 GW of solar generation assets under management around the world. In wind, it will have more than 600 MW of wind generation assets across the UK, France, Germany and Scandinavia.