Statkraft signs 3,000GWh renewables PPA to power industry in Iberia

Europe’s leading renewable energy producer Statkraft announced this week that it had signed a 10-year Power Purchase Agreement (PPA) with FORTIA ENERGÍA, the first independent energy supplier in the Iberian Market in Spain and Portugal, for the supply of 3,000 GWh.

Announced on Monday, Statkraft revealed that they would supply 3,000 GWh of renewable electricity to FORTIA ENERGÍA for large industrial consumers in the steel, cement, metallurgy, chemical, paper, and industrial gases sector in the Iberian market of Spain and Portugal. The 10-year PPA will see the electricity sourced from Statkraft’s portfolio of Spanish renewable energy projects, made up primarily of wind and solar projects.

“With the signing of this agreement, FORTIA contributes to the development of renewable energy projects, while ensuring long-term supply for the energy intensive industry at competitive and predictable prices,” said Juan Temboury, Managing Director at FORTIA. “We very much look forward to taking that next step in the energy transition together with our customers.”

FORTIA has been operating in the wholesale energy markets for over ten years and boasts annual sales of 11 TWh, making it the largest independent supplier in the Iberian Electricity Market. This new PPA is also part of the company’s larger efforts to diversify its generation sources and is the first in a portfolio it intends to expand in the coming months.

“After having made an essential contribution to the development of the Spanish PPA market during last year, we are very excited to supply this electricity to the Iberian industrial market,” added Hallvard Granheim, Executive Vice President Markets & IT at Statkraft. “This contract underlines our leading position in the European PPA market and our commitment to powering major industrial companies across Europe with renewable energy.”