Holaluz, Chint Energy Inks Deal for 500 MW of Solar in Spain

Holaluz has announced that it has approved to purchase electricity from 500 MW of planned PV projects that China’s Chint Energy plans to build in Spain, with a total outlay of €350 million over the next three years.

The two companies will also work together to discover the possibility of procuring projects. They expect that the projects will ultimately inhabit about 1,000 hectares of land, according to an online declaration.

Upon conclusion, the installations are expected to annually generate enough electricity to cater to the needs of about 300,000 households. According to a freshly signed framework agreement, Holaluz will buy the electricity over periods of five to 15 years at yet-to-be determined prices through power purchase agreements (PPAs).

Previous this year, Chint Energy started building a 103 MW solar project in the Netherlands. The Shanghai-based group began construction on the project mere weeks after revealing plans to halt production of PV modules at its German Astronergy unit.