Solar power. Audax stands for cox energy the most

On March 16, 2018, Audax Energía signed a PPA agreement, or Power Purchase Agreement, with Cox Energy, a Spanish company operating in the field of renewables and present internationally (Spain, Portugal, Chile and Mexico). Considering the numbers and figures of the operation, it is not only the most important PPA ever signed to date for the purchase of energy produced with photovoltaic technology, but will also become a point of reference for the European energy market in the field of renewables.
The terms of the agreement concern the coverage of 660MW of installed power, sufficient to distribute 1,300 GWh per year of renewable or green energy, equivalent to the consumption of more than 390 thousand families; the energy will come from installations located between Spain and Portugal owned by Cox Energy and another strategic partner. The contract provides that Cox Energy will guarantee the sale of electricity with an installed capacity of 495 MWp in Spain and another 165 MWp in Portugal. The projects will start during this year and will progressively become operational until 2020. The overall value of the investments will exceed 400 million euros.
With this operation - carried out with the legal advice of the Garrigues and Watson Farley & Williams y Voltiq firms - Audax consolidates its position as a company focused on green, clean energy from renewable sources.
The PPA signed with Cox Energy aims to be the first of other strategic steps to be taken for the development of photovoltaic energy production projects in other European countries in which Audax is already present (Portugal, Italy, France, Germany, Poland and the Netherlands). The 660MW of this PPA places Spain and Portugal as the first European countries in terms of volume of renewable energy sold through this type of agreement.

PPAs or Power Purchase Agreements are long-term energy purchase agreements that are currently becoming widespread especially among renewable energy producers and large energy selling companies (offtakers). On the one hand, they are able to bring a certain stability to the input flows for producers, avoiding the problem of market volatility and facilitating the financing or "bankability" of projects. On the other hand, large sales companies purchase energy with better economic conditions than they would have had by purchasing it on the wholesale markets, thus obtaining competitive advantages - in the short and medium term - in energy supply compared to their competitors.