February 8 (Renewables Now) - Audax Renovables SA (BME:ADX) has signed a power purchase agreement (PPA) with Ireland-based WElink Investment Holdings Ltd for the output of the Solara4 photovoltaic (PV) plant in Portugal, the Spanish renewables firm said Thursday.
The 20-year, fixed-price PPA is a part of a broader deal between the two companies which will see Audax purchasing electricity from other PV facilities, with the option of reaching up to 708 MW, developed by the WElink Group in Portugal and Spain.
The 218.8-MWp Solara4 plant is currently being built in the Portuguese region of Algarve. Once finalised, it will generate enough electricity to power more than 100,000 Portuguese households. Connection to the grid is expected by mid-2019.
Earlier this week, Audax announced a PPA signed with Morningchapter SA, the owner of the 46.1-MW Ourika PV plant in Portugal. The Ourika project was also developed by the WElink Group and later sold to renewables investor Allianz Capital Partners.