BayWa Re is to supply electricity to Norwegian energy company Statkraft from the 50MW Don Rodrigo 2 solar farm in Spain under a 12-year power purchase agreement.
Construction of the plant, which is situated on 162 hectares near Seville, is underway, with completion expected by the end of the year.
Don Rodrigo 2 will generate approximately 100 gigawatt-hours of electricity a year.
BayWa Re global director of solar projects Benedikt Ortmann said: “With Don Rodrigo 2 we continue to forge ahead with subsidy-free solar in Europe.
“Soon, we will have delivered yet another proven grid-parity project, as we continue to execute on our existing pipeline in Spain.
“We’re very proud to be leading the way for grid-parity in Spain and Europe. But this is just beginning.
“We are proactively looking for other projects and developers to work with in Spain and Portugal and are excited about further opportunities for subsidy free projects in Europe – solar power has truly come of age.”
Statkraft executive vice president markets and IT Hallvard Granheim said: “We are proud to continue our cooperation with one of the leading project developers and thus contribute to the further development of renewable assets in Spain.
“We will use the power to foster our leading position in green energy supply to major industrial customers in the Iberian market.”