Aquila, Axpo Iberia enter PPAs for 25 MW of Portuguese solar

La Cabrita solar farm, Spain. Image source: Aquila Capital (www.aquila-capital.de)

July 28 (Renewables Now) - German asset manager Aquila Capital has signed several power purchase agreements (PPAs) with energy trader Axpo Iberia SL for the output of a 25-MW solar bundle in Portugal.

The power off-take contracts were signed for a period of between five and seven years, Axpo Iberia said on Wednesday. Under the deals, the power retailer will receive about 58 GW annually generated from four of Aquila Capital’s photovoltaic (PV) parks in Portugal.

The contracted capacity is part of Aquila Capital’s Portuguese portfolio, which currently stands at around 700 MW. The power plants’ combined output is enough to cover the electricity consumption of roughly 11,000 homes in Portugal and offset over 12,000 tonnes of carbon dioxide (CO2) emissions per year.

“The signing of this latest agreement further strengthens our position in the long-term power purchase market on the Iberian peninsula,” said Ignacio Soneira, managing director of Axpo Iberia.

Axpo Iberia is the Spanish subsidiary of Swiss energy group Axpo Holding AG.

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