R.Power's Solar Success: Portugal PPA Breakthrough

• R.Power's groundbreaking PPA in Portugal marks a major milestone in renewable energy, boosting solar power generation and advancing sustainability goals.

Poland's R.Power has signed a 10-year power purchase agreement (PPA) for its solar PV projects in Portugal, covering solar farms in seven areas with an estimated 552 GWh of electricity to be supplied. The energy sales will be conducted through a financial PPA formula, with power supply set to begin in 2025. This marks R.Power's first international long-term agreement.

Portugal's solar power generation reached nearly 2.2 TWh in 2023, with renewable electricity covering 61% of the country's electricity consumption last year. The PPA with R.Power is a significant step towards increasing renewable energy sources in Portugal and furthering the country's commitment to sustainability.

What impact will R.Power's PPA have on Portugal's renewable energy goals?

• The PPA signed by R.Power for its solar PV projects in Portugal will contribute to the country's renewable energy goals by adding an estimated 552 GWh of electricity to be supplied.
• Portugal's solar power generation reached nearly 2.2 TWh in 2023, with renewable electricity covering 61% of the country's electricity consumption last year. The PPA with R.Power will further increase the share of renewable energy sources in Portugal's energy mix.
• The agreement with R.Power marks the company's first international long-term agreement, showcasing Portugal's attractiveness for renewable energy investments.
• The power supply set to begin in 2025 through the PPA will help Portugal in achieving its target of 80% renewable electricity by 2030, as outlined in the country's National Energy and Climate Plan.
• The PPA with R.Power demonstrates Portugal's commitment to sustainability and transitioning towards a greener and more environmentally friendly energy sector.