A Spanish firm has broken new ground in the complex world of solar contracting with what is thought to be Europe’s first large-scale power-purchase agreement (PPA) for a crowdfunded plant.
According to GreenTechMedia, Holaluz, a clean-energy retailer, signed up to take the output from up to 75 megawatts of solar capacity to be built over the next three years by Fundeen, a specialist renewables crowdfunding platform, in Spain and Portugal.
The move is significant in the evolving solar PPA landscape, because until now crowdfunded projects in these markets have only been able to take advantage of self-consumption or feed-in tariff payback models, said Holaluz’s PPA lead Daniel Pérez Rodríguez, also the firm’s chief legal officer.
Fundeen allows individuals to invest 500 euros ($567) or more in renewable energy plants and get an average annual return of 7 percent. The largest project in the company’s portfolioso far is a 1-megawatt project in Cordova, Spain, which is looking for €555,800 (roughly $630,200).
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Date: Jun 12, 2019 @ 09:20
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