Audax Renovables and Statkraft have signed the largest long-term power purchase agreement in Spain.
Image: Statkraft signs PPA with Audax Renovables. Photo: Courtesy of European Bank for Reconstruction and Development.
With immediate effect, Statkraft supplies Audax Renovables with 525 GWh electricity annually for a period of ten and a half years. The annual volume could supply 130.000 Spanish households with green energy for one full year. Audax Renovables will use it to supply SME and private households in Spain.
Statkraft will deliver energy sourced from its Spanish solar portfolio. During the past 15 months Statkraft has closed several power purchase agreements for both fully merchant projects, as well as projects that were granted permission/won the tender in the Spanish auctions.
With this agreement, Audax Renovables and Statkraft will support Spain in achieving its climate targets for 2020, namely a 20% share of renewable energy. Small and medium sized enterprises (SME) represent a key component in this energy transition.
“This agreement is in line with our strategic objectives to source the most cost-efficient energy through long-term PPA contracts to boost our growth nationally and internationally. The PPA with Statkraft will enable us to offer highly competitive conditions and consolidate our position as the leading independent supplier of small and medium sized enterprises in Spain.”, says José Elías, Founder and Chairman at Audax Renovables.
“Renewable PPAs are an important part of Statkraft’s strategy to develop its market activities in Spain. The contract with Audax Renovables strengthens our position as a front-runner in this business. We are proud to be able to respond confidently to the growing interest of Spanish and Portuguese industry in renewable energy” says Hallvard Granheim, Executive Vice President Markets & IT at Statkraft.
Source: Company Press Release