The Norwegian energy developer Statkraft has inked a deal for output from a 210MW solar plant in Portugal.
The company has already signed a power purchase agreement (PPA) for the same.
As per the deal, the supplier will purchase power from the Santarém plant for a period of eight years. The project includes three solar plants which are under construction.
It has been informed that the project also has a stake in NextEnergy Solar Fund.
A local report mentioned, “The PPA builds on the existing successful relationship between NextEnergy Capital and Statkraft, following an earlier signed PPA between the two covering Agenor, a 50MW Spanish solar asset and NESF's first co-investment, where the company took a 25% stake alongside NextPower III ESG.”
To be noted, NextPower III ESG a private solar fund which is specialized on utility scale solar assets. It will enable quick access to an established portfolio of global solar assets, which are both in operation and in-construction.
So far, NextPower has acquired 1.8GW of solar across countries like Chile, Portugal, Spain, Greece, and Poland.
Ross Grier, UK Managing Director of NextEnergy Capital, was quoted in a statement, "The PPA in place for Santarém, of which NESF holds a 13% stake, is with a high credit counterparty, provides secured long-term visibility of cash flows, and ultimately provides stable returns for NESF.”