Shell Expands Renewable Supply Under Statkraft Makro PPA in Spain

Shell has increased its renewable electricity offtake under the Statkraft Makro power purchase agreement (PPA) in Spain, further strengthening corporate demand for clean energy in one of Europe’s most active renewable markets.

The expanded agreement is part of a broader portfolio-based PPA structure led by Statkraft, which aggregates renewable generation assets and supplies electricity to corporate buyers seeking long-term clean energy procurement solutions.

Corporate PPAs continue to play a key role in enabling renewable energy expansion across Europe by providing developers with stable revenue streams while allowing large energy consumers to access renewable electricity and meet decarbonization targets. Portfolio-based structures, in particular, are becoming increasingly common as they offer flexibility and scale by combining output from multiple projects.

Spain remains a leading European market for renewable energy deployment, supported by strong solar and wind resources and a growing base of corporate clean energy demand. The country has attracted significant investment in utility-scale renewable projects, with PPAs acting as a key financing and offtake mechanism.

For Shell, the expanded offtake reflects continued efforts to increase renewable energy sourcing within its broader energy transition strategy. For Statkraft, the agreement reinforces its role as a major aggregator and supplier of renewable power to corporate customers across European markets.

The development also highlights a broader trend in the energy transition, where corporate procurement is increasingly shaping renewable investment flows and influencing project development pipelines.

As demand for long-term clean electricity contracts continues to grow, portfolio PPAs are expected to play an expanding role in connecting corporate buyers with large-scale renewable generation assets.