Recurrent Energy signs 115MWp solar photovoltaic PPA in Spain

Recurrent Energy said the Rey I solar project could generate 240 GWh of energy per year.

“Over the last 10 years, we have built up a wealth of experience in delivering large-scale projects for global clients. We are grateful to GKN Automotive for entrusting us with their first PPA in Europe,” said Ismael Guerrero, CEO of Recurrent Energy.

Ahead of the PPA, Recurrent Energy announced last month that it had powered a 360 MW solar plant in Brazil.

The Marangatu solar project, located in the northern state of Piauí, was designed and built in 14 months by Recurrent Energy. Solar trackers for the photovoltaic plant were supplied by Spanish tracker manufacturer Soltec. A long-term PPA was secured for 75% of the energy produced by the photovoltaic plant.

In addition, Recurrent Energy recently secured a €674 million ($730 million) revolving credit facility to expand its European portfolio of solar and battery energy storage systems (BESS). The company did not confirm the total capacity of either solar or battery storage that will be financed by the system. The company said its total development portfolio includes 26 GWp of solar PV and 56 GWh of battery storage.