To produce a pool of 7.35 MW of zero-carbon PV irrigation using MASLOWATEN technology, distributed in approximately 12 different systems and locations already identified in the Ebro basin.
The minimum amount of installations to guarantee the total cumulative power and total avoided emissions set for this project is set at 4 plants. In order to adopt photovoltaic irrigation technology (PVI), irrigators require competitive energy prices compared to existing installations. In addition, confidence in the technology must be based on the existence of successful examples of previous cases. This first farm will serve as a flagship for large-scale PVI that will demonstrate the suitability of zero-carbon irrigation in Spain and other countries.)
To introduce advanced monitoring and analysis features in the irrigation sector to ensure performance, minimize operating expenses and reduce LCOE (Levelized Cost of Energy). The availability of a large set of PVIs will allow Acciona and its partners to access a rich dataset of relevant information on the operation of PVI systems, including technical performance, energy and water consumption, operating protocols and maintenance and best practices.
To demonstrate the viability of using PVI-based PPA as valid collateral for capital-market oriented financial instruments, potentially allowing a strong reduction in the costs of PVI financing transactions. The incorporation of trading concepts and practices in the generation of PVI will allow the introduction of liquidity in PVI investments, dramatically increasing the attractiveness of the asset class for investors. This will have an impact on future PVI developments, as the asset creation and management practices developed by CO2-FrAMed can be applied in subsequent PVI projects.
To produce a pool of
zero-carbon PV irrigation
To avoid GHGE of more than 17,700 tCO2e during the first 10 years of operation. By switching irrigation from the grid to 100% renewable energy reducing grid congestion.
To demonstrate that PVI is suited to medium/large irrigation infrastructures working stand-alone without the need for batteries or maintaining a full-capacity backup.
To allow thousands of farmers access to affordable zero-carbon irrigation, with guaranteed results and without the need for up-front payments.
To demonstrate that PVI can be used as high-quality collateral for capital market-oriented financial instruments (green bonds) to attract private investments to decarbonise farming.
To contribute to the Green Deal objective “Transition to a fair healthy and environmentally friendly food system” (The Farm to Fork Strategy), by facilitating farmers’ efforts to tackle climate change, allowing them a reliable and cost-competitive alternative for irrigation. It is expected that 2,000 farmers will have access to zero-carbon irrigation.
To avoid the emission
Innovation.CO2-FrAMed introduces two breakthrough innovative technologies and one disruptive business model in the farming sector that will allow for the decarbonisation of irrigation
A business model designed to attract farmers on a large scale and to allow access to capital markets. It is composed of two key elements:
- Procurement and commercialization of PV electricity through a pool of contracts under the Renewable Power Purchase Agreements model (PPA).PPAs have demonstrated their potential to unlock renewable energy in many sectors as they optimise the distribution of risks among stakeholders and reduce uncertainties for both consumers and investors. By introducing the PPA business model to stand-alone large PVI projects, Acciona seeks to facilitate the adoption of zero-emission irrigation.
- Reduction of financing costs of PVI projects by showing that they qualify as collateral for high-quality financial instruments.CO2-FrAMed will allow for the existence of a track record of PVI that will demonstrate that these projects can produce a predictable cash-flow and that, with the adequate originating and management best-practices, securitization will be possible. CO2-FrAMed will demonstrate that a pool of large-power PV irrigation systems can be used to produce green bonds with an investment-grade credit rating qualification. This will allow subsequent PVI projects to access low-cost funding and LCOE reductions.
A new technology of large-power PV irrigation systems that are stand-alone and without batteries. This is a significant breakthrough as the need for full-scale back-ups was the most important economic barrier to PVI competitiveness. Maslowaten technology has proven to be reliable and mature.
Advanced monitoring and automated analysis of performance, , fault detection, diagnosis and reporting for high performance, large-power PV irrigation systems in decentralised projects including innovative performance indicators, as requested by Action 4 of SEP PLAN.