Another 300 MW of solar energy for Audax Renovables
Audax Renovables, a Spanish company dedicated to the marketing of electricity and gas and the generation of renewable 100% electricity and Trina Solar, one of the most important Chinese companies in the world in the field of solar energy, have signed a macro-contract for the purchase and sale of energy from photovoltaic. Technically, the one signed between the parties is a PPA, or a Power Purchase Agreement, i.e. a long-term purchase agreement between renewable energy producers and selling companies.
The 300 MW of capacity envisaged by the contract makes the PPA just signed one of the most important achieved so far worldwide.
Audax Renovables has therefore been awarded for 20 years the electricity produced by the photovoltaic installations that Trina Solar will create for the Spanish electricity market and especially for the regions of Castile La Mancha, Levante and Andalusia.
Thanks to this agreement and based on market conditions, further investments of over 200 million euros can be expected; the beneficiaries will be both the community - in the form of new jobs - and the environment - considering the production of clean energy. And all this without there being any need to resort to public subsidies.
The start of activities is expected at the end of this year or, at the latest, at the beginning of 2020. The photovoltaic installations will be built in regions where solar radiation is greatest such as Castile La Mancha, Levante and Andalusia and will produce a quantity of enough energy to provide renewable 100% electricity to more than 200 thousand families.
“Every PPA signed is good news for the company and for customers” states José Elías, CEO and founder of the Audax Group, who continues by recalling that “every time renewable energy reaches the electricity market there is a decrease in the price of electricity, jobs are created and greenhouse gas emissions are reduced. Many advantages without there being any additional cost to the consumer's bill, as this is an operation between private companies that has not benefited from any public subsidy".
The agreement will allow Audax Renovables to purchase energy at more competitive prices and the Audax Group as a whole to consolidate its leadership in the Spanish market, in which it occupies fourth position in the SME segment.
Furthermore, the PPA falls within the framework of Audax Renovables' strategic objectives relating to the supply and distribution of energy which must increasingly be of renewable and, therefore, clean origin.
In recent years, the Audax Group's strategy has been based on three pillars. First, obtain a better positioning in the Spanish market by pursuing development and growth; second, undertake a decisive internationalization policy with penetration into countries such as Portugal (2013), Italy (2014), Germany (2015), Poland (2016) and Holland (2017) and third, continue on the path of sustainability with the maintenance and the construction of installations to produce renewable energy located in Spain, France, Poland and Panama.
The Audax Renovables Group is a rapidly growing entity. In 2018 it distributed energy to more than 300 thousand customers for a total volume of 10.1 TWh, recording a +27.5% compared to 2017. The growth in turnover was also followed by an increase of 44% in the operating margin (EBITDA) compared to the previous year.
Focus on renewable energy also through cutting-edge tools such as PPAs. Prior to the one signed with Trina Solar, Audax Renovables entered into agreements with Cox Energy and WELink Group. In both cases these were record contracts for the volume of photovoltaic energy purchased, with the second reaching 708 MW.
