ENCAVIS AG concludes a long-term power purchase agreement (PPA) with Amazon. In Cabrera in southern Spain, in the immediate vicinity of Seville, the company's second largest solar park will be built with a generation capacity of around 200 MW. To increase the yield, the solar modules will be mounted on single-axis trackers. The plant is scheduled to be connected to the grid at the end of the third quarter of 2020.
The total amount of electricity agreed over the 10-year contract period amounts to 149 MW or around 3,000 gigawatt hours (GWh) and shall be supplied to Amazon, including the corresponding green certificates of origin. Encavis realizes in due course its second solar project in Spain and contracted long term more than 7,500 GWh green energy without any governmental subsidy. Additional around 1,000 GWh of electricity will be available for the wholesale market at spot market prices at first.
The investment volume, including project-related external financing, amounts to around EUR158 million (US$175.7 million). Following the strategy of the solar park in Talayuela, Spain, the project developer Solarcentury participates with up to 20 percent in the investments. Pexapark acted as PPA advisor for Encavis AG.
