ENGIE draws new renewable landscape in Spain with Goya

ENGIE concluded with Forestalia, General Electric and Mirova  an innovative partnership to develop the Goya project, a nine-subsidy-free wind park with a total capacity of 300 MW, awarded at the first Spanish renewable generation auction in 2016.

ENGIE in Spain participates in this project with a multi-facetted profile, being at the same time energy manager, long term purchaser, constructor and shareholder. As part of ENGIE global energy management solutions, we signed a first of its kind 12-year green Power Purchase Agreement (PPA), to buy at a large part of the electricity generated by the future nine wind farms in the province of Zaragoza.

Within this green PPA and for the entire duration of the contract, our experts will provide risk management services, and optimize and manage Goya wind farms’ electricity production in the Spanish spot and balancing markets, as well as the Guarantees of Origin produced. This green PPA guarantees the economic viability of the project.

 

This marks a new milestone in the Spanish energy market as it is the first PPA to be signed for wind farms under development in the country.

“The PPA is a tailored-made contract which is changing relationships within the energy market. This project is completely innovative in our country”, says Loreto Ordóñez, CEO of ENGIE Spain. “ENGIE bets on this model to ensure that everyone, producer, client or marketer, will benefit from a more efficient management and from more certainty on their market risks. In addition, this certified energy comes from renewable sources, highly demanded by socially responsible companies. This is our contribution to harmonious progress”.

With this new success, ENGIE, already leading supplier of green electricity in France, strengthens further its position in Europe as a pioneer of the energy revolution and a green midstreamer serving the entire value chain.

The PPA is a tailored-made contract which is changing relationships within the energy market. This project is completely innovative in our country. ENGIE bets on this model to ensure that everyone, producer, client or marketer, will benefit from a more efficient management and from more certainty on their market risks. In addition, this certified energy comes from renewable sources, highly demanded by socially responsible companies. This is our contribution to harmonious progress.”

Loreto Ordóñez, CEO of ENGIE Spain