AUDAX RENOVABLES, NEW 100 GWh YEAR PPA

Audax Renovables has signed a PPA agreement (Power Purchase Agreement) with the German company Innogy for the purchase of 100 GWh per year of green electricity generated by solar photovoltaic.  

The energy will come from the 50 MW photovoltaic park in Alarcos, Spain, and will serve to satisfy an important share of the green energy that Audax Renovables supplies to Spanish customers.

The signed contract, of duration of 10 years, will start from the first half of 2020, when the Alarcos park is expected to come into full operation. From that moment, the plant owned by Innogy will provide Audax with approximately 100 GWh every year of green electricity, according to the "Guarantee of Origin" certification which attests to the renewable origin of the sources used.

Holger Himmel, Financial Director of Innogy's Renewable Energy sector, declares that "with this agreement we demonstrate that it is possible to protect the environment also in a market logic: with PPAs we are able to operate the Alarcos plant without any subsidy public, demonstrating that solar energy is already a competitive solution. And the decrease in costs of this technology will push its development even further. Furthermore, this PPA allows Audax to provide Spanish customers with sustainable and clean energy.” Keith Moseley, Commercial Director of Innogy, continues by saying that “the objective is to continue the diffusion of renewable sources in the world, working on projects to be commercialized through PPAs and collaborating with companies such as Audax”.  

José Elías, President of Audax Renovables SA, explains how “this agreement is in line with our strategic objective of having clean energy at affordable prices thanks to tools such as long-term PPAs; a way to stimulate the growth of the Group. And the one just signed with Innogy will allow us to consolidate our position as the first independent energy supplier in the SME segment in Spain".

The Alarcos photovoltaic park, currently under construction, is located south of Ciudad Real, in the Castile-La Mancha region. Commercial operations are expected to begin in the second quarter of 2020. Once fully operational, the plant will produce enough green energy to meet the electricity demand of approximately 25,000 households.

Belectric, a company controlled by Innogy, is in charge of the construction of the park and its management, also as a supplier of related services.