Encavis to supply Spanish solar power for Schouw & Co's European ops

German wind and solar parks operator Encavis AG (ETR:ECV) has signed a deal to deliver green power for the European business operations of Danish industrial conglomerate Schouw & Co (CPH:SCHO).

The power purchase agreement (PPA), is Schouw & Co’s first such deal in Europe, and will be valid for 10 years, Encavis said on Wednesday. The arrangement will provide the industrial conglomerate with roughly 88 GWh of green electricity annually, equal to more than 40% of the power consumption of its European businesses.

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The contracted electricity volumes will be sourced from the 55-MW Fundici photovoltaic (PV) farm in the city of Guillena, located in Spain’s Andalusia region. Power supplies will be launched by Encavis in the first half of 2025.

“In Schouw & Co, we are committed to decarbonization and have ambitious long-term CO₂ reduction targets, and the PPA with Encavis is a significant step in reducing the emissions from purchased electricity,” said Jens Bjerg Sorensen, CEO of Schouw & Co.

At present, Encavis has 500 MW of operating assets in Spain and is working on the construction of a further 317 MW.