The Vale de Moura photovoltaic plant in the municipality of Évora, one of the first in the whole of the Iberian Peninsula to be operated without any kind of public subsidy, starts operating tomorrow, Friday, June 14.
With an area of 55 hectares and a total installed capacity of 28.8 megawatts (MW), the new plant will produce more than 52 gigawatts-hour of clean energy per year – equivalent to the annual average consumption of almost 10,000 dwellings.
This project, which invested around 20 million euros, follows a ten-year power purchase agreement (PPA), signed with the Swiss energy group Axpo, which guarantees the commercialization of energy until 2029.
"The start-up of the Évora power plant marks a new stage in the national energy scene, opening the way for more long-term PPAs and contributing to the development of renewable energy and energy transition in Portugal," said Ignacio Soneira, director of Axpo in the Iberian Peninsula.
Axpo will act as sales agent of the photovoltaic power plant in the Iberian electricity market (MIBEL), providing a guarantee of the price of electricity in the next 10 years.
This guarantee made possible the private financing of the project "since it guarantees a stability of the revenues to the producer, at the same time that allows us to offer prices more competitive to the consumers" adds Soneira.
The Vale de Moura photovoltaic plant will avoid the emission of 110,756 tonnes of CO2 per year, helping to meet the decarbonization targets set by the European Union, where Portugal is expected to increase the share of energy from renewable sources in final consumption to 31% , by 2020.