Axpo Iberia SL has signed an eight-year power purchase agreement (PPA) with BlackRock and Exus, to off-take the output of a 24 MWp Planta Solar da Gloria solar photovoltaic (PV) farm planned to be developed in about 50 hectares (123.6 acres) of land in the district of Santarem, Portugal.
The PPA was arranged with Exus Management Partners and the real assets division of US investment manager BlackRock Inc.
Exus and BlackRock Real Assets select the EFACEC as engineering, procurement and construction (EPC) contractor. EFACEC will also service the farm under an operations and maintenance (O&M) contract.
Commissioning is scheduled to take place in the first quarter of 2020 and is expected to generate more than 46 GWh per year, equivalent to an annual demand of around 11,000 households.
