Greenmont signs 7-year PPA with Nace Energia
Greenmont, a Cyprus based fund, wishes to take advantage of the development opportunities in the rapidly evolving Spanish renewable-energy investment market whilst minimising the price fluctuation risks during the development phase. Traditional PPAs are signed for specific projects with specific delivery dates, leaving the risk of failure to deliver on the side of the developer.
This unique and landmark deal shows the flexibility of a purely market based system, where innovative market participants can pivot and offer a product which differs in structure and risk profile from other offers.
By signing a PPA without locking in a specific project or delivery date, Greenmont is able to widen their development efforts and progress several projects across Cádiz, Granada, Málaga, Huelva and Jaén.
ONE was able to assist in Greenmont in not only finding an offtaker willing to take a different approach but also with an attractive price.