Engie Espana signs PPA to serve large industry in Spain, Portugal

Fortia Energia, a Spain-based energy platform representing large industry electricity consumers, has signed a power purchase agreement (PPA) with Engie Espana to procure the supply of over 400 GWh per year for its customers in the Iberian Peninsula.

Engie will supply the contracted power from its renewables portfolio in Spain and Portugal, either through own assets or market operations, local news agency Europa Press quoted the two companies as saying.

The PPA will run for 11 years.

The Spanish unit of France’s Engie SA (EPA:ENGI) operates mostly hydro-based renewables and some wind and photovoltaic (PV) assets in Spain.

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