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 electricity 100% and Trina Solar, a Chinese company among the most important 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 Power Purchase Agreement, that is, a long-term purchase agreement between renewable energy producers and selling companies.
The 300 MW of capacity envisaged in the contract makes the recently signed PPA one of the largest ever created worldwide.
Audax Renovables has therefore been awarded a 20-year contract for the electricity produced by the photovoltaic installations that Trina Solar will build for the Spanish electricity market and especially for the regions of Castilla La Mancha, Levante and Andalusia.
Thanks to this agreement and depending on market conditions, additional 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 the need for public subsidies.
The start of operations 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 with the greatest solar radiation, such as Castilla La Mancha, Levante and Andalusia, and will produce enough energy to provide renewable electricity to more than 200,000 families.
“Every PPA signed is good news for the company and for the customers,” says 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 reduction in the price of electricity, jobs are created and greenhouse gas emissions are reduced. So many advantages without any additional cost to the consumer in the 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, where it occupies fourth position in the SME segment.
Furthermore, the PPA is part of Audax Renovables' strategic objectives regarding 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, to achieve better positioning in the Spanish market by pursuing development and growth; second, to undertake a strong internationalization policy with penetration into countries such as Portugal (2013), Italy (2014), Germany (2015), Poland (2016) and the Netherlands (2017); and third, to continue on the path of sustainability with the maintenance and construction of renewable energy production facilities located in Spain, France, Poland and Panama.
The Audax Renovables Group is a rapidly growing entity. In 2018, it distributed energy to more than 300,000 customers for a total volume of 10.1 TWh, recording a +27.5% compared to 2017. Similarly, the growth in turnover was also followed by an increase of 44% in the operating margin (EBITDA) compared to the previous year.
Focusing on renewable energy also through cutting-edge tools such as PPAs. Before the one signed with Trina Solar, Audax Renovables has signed agreements with Cox Energy and with WELink Group. In both cases, these were record contracts for the volume of photovoltaic energy purchased, with the second reaching 708 MW.
