Capital Energy signs its first three PPAs in Spain with the Norwegian company Statkraft

• Capital Energy signs its first three PPAs in Spain with the Norwegian company Statkraft.
•  The agreements, with a term of up to 10 years, provide for the sale of all energy produced by three Capital Energy wind farms with a combined installed capacity of 126 megawatts (MW).
• Thanks to the Power Purchase Agreements signed with Statkraft, the Spanish Company continues to strengthen the financial structure of its three most mature renewable projects, which are located in Castile and Leon, Asturias and Andalusia.

Madrid, 31st May 2021.- Capital Energy, a Spanish energy company incorporated in 2002 with the vocation of becoming the first vertically-integrated 100% renewable energy firm on the Iberian Peninsula, has just signed its first Power Purchase Agreements (PPAs) in Spain with the Norwegian company Statkraft.

Specifically, the agreements signed by both companies, the first of their kind, have a term of up to 10 years and provide for the sale to Statkraft of the electricity produced by three Capital Energy wind farms with a combined installed capacity of 126 megawatts (MW).

In total, these PPAs will involve the transaction at a fixed price of 1.2 terawatt hours (TWh), equivalent to the electricity consumption of around 500,000 households per year. 

Thanks to the Power Purchase Agreements entered into with Statkraft, Capital Energy continues to strengthen the financial structure of its three most mature wind projects, which are located in Castile and Leon, Asturias and Andalusia.

According to Juan José Sánchez, CEO of Capital Energy, "the signing of these agreements undoubtedly represents an important milestone for our Company, which continues to take steps to strengthen, from all points of view, its clean energy project. We are confident that the agreement signed with Statkraft will be the first of many to come".

Simon Kornek, Vice President South European Origination at Statkraft, commented: ““The renewable PPAs with Capital Energy once more underpin the important role of private PPAs in supporting the decarbonisation of the electrical system in Spain. These PPAs further grow and diversify Statkraft’s portfolio of newly-built competitive renewable energy, further strengthening our position to provide innovative green power solutions to corporate and industrials in Spain".