Powertis signs agreement with Total for joint development of 1 GW of photovoltaic projects in Spain

It will contribute to the reduction of some 750,000 tons of CO2Madrid. February 11, 2020 - Powertis, a Spanish company dedicated to the development of large-scale solar PV projects, has signed a co-development and joint energy sales agreement with the French business group Total, a global energy benchmark, for a portfolio of up to 1 GW of solar PV power in Spain, thus continuing Powertis' strategy of growth and consolidation in the development of solar PV projects in the bilateral PPA market. The company already has a portfolio of projects, including identified opportunities, in various stages of development in Spain that exceed 950 MW of installed capacity. The development of the projects under this agreement will contribute to the reduction of approximately 750,000 tons of CO2. Through this agreement, both companies establish a joint venture whereby Total will secure the right to purchase the projects developed by Powertis until February 2021, while Powertis will be responsible for the development of the projects. Soltec (Powertis' partner company) will be Powertis' supplier for the equipment, installation and construction phases of the projects developed by this joint venture.11 February 2020