AUDAX RENOVABLES, NEW PPA OF 100 GWh PER YEAR

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 meet a significant share of the green energy that Audax Renovables supplies to Spanish customers.

The contract signed by the duration of 10 years, will start in the first half of 2020, when the Alarcos park is expected to be fully operational. From that moment, the plant owned by Innogy will provide Audax with approximately 100 GWh per year of green electricity, according to the “Guarantee of Origin” certification which attests to the renewable origin of the sources used.

Holger Himmel, CFO of Innogy's Renewable Energy business, says that “with this agreement we are demonstrating 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 public subsidy, demonstrating that solar energy is already a competitive solution. And the decrease in the costs of this technology will further drive its development. In addition, this PPA allows Audax to provide Spanish customers with sustainable and clean energy”. Keith Moseley, Commercial Director of Innogy, continues that “the aim is to continue the spread of renewable sources in the world, working on projects to be commercialized through PPAs and collaborating with companies like 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 instruments such as long-term PPAs; a way to stimulate the Group’s growth. And the one just signed with Innogy will allow us to consolidate our position as the leading independent energy supplier in the SME segment in Spain”.

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

Belectric, a subsidiary of Innogy, is responsible for the construction of the park and its management, also as a provider of related services.