King & Wood Mallesons (KWM) has advised the oil & gas company GALP on a Power Purchase Agreement (PPA) with the Spanish renewable company X-Elio. This PPA is related with a number of solar projects that, once built, will generate around 200MW and supply a total of 358GWh every year for 12 years.
These solar projects will save 19,000 tons of CO2 annually, and is equivalent to the electric supply to 140,000 homes.
The legal advice to GALP was led by Partner of Energy Gonzalo Olivera, who was assisted by Senior Associate Alberto Artés.
This PPA scheme fits GALP’s strategy, as a leading Iberian integrated energy company, to secure a balanced and competitive long-term sourcing for its power activities, while offering its customers access to efficient and environmentally sustainable energy solutions.
X-Elio specializes in the development, construction, operation and maintenance of solar plants. In 2018, the company earned more than €130 million and currently has 23 solar plants operating in 13 countries.