Audax inks PPA with Innogy for 50-MW of Spanish solar
Solar park in Spain. Featured Image: MilaCroft/Shutterstock.com
Spain’s Audax Renovables SA (BME:ADX) has signed a power purchase agreement (PPA) with German energy company Innogy SE (ETR:IGY) to secure electricity from the 50-MW Alarcos solar photovoltaic (PV) park in Ciudad Real, in the Spanish region of Castile-La Mancha.
The Spanish renewable power generator and retailer said in a regulatory filing on Monday it signed a ten-year off-take deal for 100 GWh of electricity per year. Innogy is to start the delivery in the first half of 2020.
The electricity will be used to supply small and medium-sized enterprises (SMEs) and private households in Spain.
Innogy said in January of this year that it would build and operate the EUR-40-million (USD 44.3m) solar park without the support of state subsidies. According to the timetable shared by the German company at the time, Alarcos is supposed to start operations at the end of 2019.
Last summer, Innogy purchased the Alarcos project from Spanish renewable energy company Synergia Energy Solutions SL and tasked its subsidiary BELECTRIC with building, operating and maintaining the solar park.
Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.