Spanish energy investment company Sunco Capital broke ground on the construction of two home solar panel kit system solar power plants in Manzanares, near Ciudad Real in Castilla-La Mancha, southern Spain, with a total generating capacity of 83 MW.
Sunco said that the electricity produced by these two factories will be sold to Shell Energy Europe Ltd., a subsidiary of Shell, through a power purchase agreement (PPA). At present, these two projects have started construction and are scheduled to be completed next year. By then, these projects will become Sunco ’s first operating assets. Sunco has a 2 million kilowatt solar project development portfolio, and its business covers Europe and Latin America. Reinvest 450 million euros.
The PPA signed by Shell is the second unsubsidized solar power agreement signed in Spain since the Covid-19 crisis in Spain. The EDPR renewable energy division of the Portuguese power company EDP reached an agreement last month to sell the electricity generated by 59 MW of solar and wind power generation to the Dutch multinational company Royal DSM.
Bloomberg New Energy Finance analysts said that since the corona virus pandemic, the cost of photovoltaic projects in Spain has been 35.30 euros per megawatt hour, which can ensure that the country provides the best European market for unsubsidized corporate
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