Shell Energy Europe Ltd. entered a long-term contract to buy energy from the 180-MWp Bienvenida solar farm in Spain.

Berlin-headquartered solar energy developer ib vogt GmbH, which sold the project to German insurance group Talanx AG in December 2019, will perform all contracts for the project delivery and operation.

The power purchase agreement includes price hedging that will help the parties balance price volatility while remaining exposed to opportunities in the Spanish power market, according to a news release.

Shell Energy Europe is a unit of Royal Dutch Shell PLC.