Econostrum | Economic News in the Mediterranean



Total to develop 3.3 GW of additional solar projects in Spain

Total's Spanish solar projects cover almost all of Spain (map: Total)
Total's Spanish solar projects cover almost all of Spain (map: Total)
SPAIN / FRANCE. Thanks to an agreement with Spain's Ignis, on Friday 25 September 2020, guaranteeing the deployment of an additional 3.3 gigawatts (GW) of solar projects, Total is strengthening its position in the Spanish market.

Construction of the first solar farms will begin in 2022 and the French group aims to bring them all into production by 2025. They will be built near Madrid and in Andalusia.
This deal with Ignis will enable the French group to increase its portfolio of solar projects in Spain to more than 5 GW by 2025.

According to a press release from Total, "this solar electricity portfolio will enable the group to cover all the electricity consumption of its industrial sites in Europe by 2025: to do this, (it) will purchase nearly 6 TWh per year of green electricity produced by these Spanish solar sites through an electricity purchase contract covering more than 3 GW of solar farms. It will be the largest corporate PPA in the world. Thanks to its electricity trading capabilities, the Group will thus be able to supply all of its European sites with competitive green electricity".

Total has already signed two important agreements in Spain in 2020. The first in February with Powertis and Solarbay Renewable Energy to develop nearly 2 GW of solar projects. The second with the acquisition in May from Energias de Portugal (EDP) of a portfolio of 2.5 million residential customers and two natural gas-fired combined cycle power plants (843 MW).

"Spain is a priority country for Total in Europe and we intend to take advantage of the growth opportunities that the country offers in order to respond concretely to the challenges of the energy transition towards carbon neutrality," said Patrick Pouyanné, Chairman and CEO of Total.

The Spanish government plans to produce 70% of its electricity from renewable energies by 2030, and then 100% by the middle of the century.

Frédéric Dubessy

Friday, September 25th 2020

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