Global energy company Total and Spanish renewable projects developer Ignis will develop 3.3GW of solar power projects in Spain.
As part of the agreement, Total has agreed to pay remuneration to Ignis as the projects develop.
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By GlobalDataThe deal will bring more than 5GW of solar capacity to Total’s portfolio in the region by 2025. It will also position the company as the major player in Spain’s energy transition.
Construction works on the first projects will begin in 2022, with operations set to start by 2025.
The deal with Ignis follows Total’s agreement with Powertis and Solarbay Renewable Energy signed in February this year.
This included development of nearly 2GW of solar projects, and acquisition of two gas-fired combined cycle power plants. The 850MW-capacity gas plants were bought from Energias de Portugal in May last year, along with a portfolio of 2.5 million residential customers.
The clean energy generated by the solar facilities will help Total to power all its European facilities by 2025.
For this, the company will purchase nearly 6TWh of electricity every year. This will be generated by its solar sites in Spain through a power purchase agreement covering more than 3GW of solar farms.
Total chairman and CEO Patrick Pouyanné said: “Total is becoming one of the main broad-energy players in the country by intervening both in the production of renewable and gas-based electricity and in the distribution of gas and electricity.
“Our ambition, first and foremost, is to provide a clean, affordable electricity offering to our residential customers in Spain. Spain is a priority country for Total in Europe and we fully intend to leverage the market’s growth opportunities that the country offers to respond concretely to the challenges of the energy transition towards carbon neutrality.”
