Norwegian energy company Statkraft is to buy electricity from five solar farms totalling 252MW in Spain owned by Solaria.
The initial duration of the agreement is 10 years starting from the commissioning of the facilities next year.
Three projects are located in Castilla y Leon and two in Castilla La Mancha.
The five facilities will produce around 500 gigawatt-hours of electricity a year.
Solaria chief operating officer Dario Lopez said: “It is an honour to start working with Statkraft, a reference company in the European energy sector, and we are grateful for the confidence they have shown in Solaria.
“This agreement reaffirms our commitment to develop projects with very high quality PPAs that will allow us to access very attractive financing.”
Statkraft senior vice president trading and origination Carsten Poppinga said: “We are proud to sign this PPA with one of the leading solar projects players in Spain and thus contribute to the further development of renewable assets.
“We will use this power to strengthen our position as a leading supplier of green power deliveries to major industrial customers on the Iberian Peninsula.”