NextEnergy, Statkraft Sign PPA For 210 MW Portuguese Solar Projects

NextEnergy Capital, a UK based global solar specialist in the renewables sector, has announced the signing of a PPA in Portugal with Statkraft AS, a Norwegian state owned utility.

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.

NextEnergy said that once energised, the solar plants will produce an estimated annual production of 341GWh. This much of energy is equivalent to powering an estimated 98,000 homes annual electricity consumption needs per annum.

Statkraft claims to be world’s leading renewable energy player with strong foothold in the European energy market.

Under this agreement with NextEnergy, 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 said, “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 on the deal with NextEnergy, “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.”

He also thanked agreements like this and partners like NextEnergy Capital that are helping the energy transition to become a reality, acting on both supply and demand, by allowing large industrial consumers to be provided with clean and affordable energy.

Last November, NextEnergy Solar Fund acquired a 250 MW diversified portfolio of battery storage projects and grid connections in the east of England, the UK.