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The renewable power retailer Holaluz and solar firm Chint Energy have signed a framework agreement to develop solar photovoltaic (PV) projects totaling 500 MWp located in Spain.
The Chint Energy will build the solar projects, while Holaluz agrees to purchase the output under five and 15-year power purchase agreements (PPAs), to serve as a market representative and the expected generate enough electricity to power is 300,000 households.
The agreement represents an investment of EUR350 million (US$392.3 million).
