Audax Renovables and Innogy signed a 100 GWh PPA in Spain

Spanish utility Audax Renovables S.A. has signed a Power Purchase Agreement (PPA) with German energy group Innogy SE regarding the supply of green power from Innogy’s 50 MW »Alarcos« solar farm. The long-term contract will run for 10 years – starting in the first half of 2020 when the facility is expected to be fully operational. Innogy’s solar farm will supply its annual production of around 100 GWh to Audax. According to Holger Himmel, CFO Renewables at Innogy SE, »the PPA enables us to operate our Alarcos solar farm without any state subsidies. This underlines that solar energy is already competitive.«
The large-scale PV plant is currently under construction south of the city of Ciudad Real in the Autonomous Community Castilla-La Mancha. It is anticipated that commercial operations will start in the second quarter 2020. Innogy’s subsidiary Belectric is responsible for the entire construction and will also take on operation and maintenance of the solar farm as a service provider.
Audax Renovables is the result of the merger between Audax Renovables and its parent company, Audax Energía. The Group operates in two differentiated business activities: energy supply and generation. In its electricity and gas supply division, Audax has presence in Spain, Portugal, Italy, Germany, Poland and Netherlands. On the other hand, the generation division manages a total operating portfolio of 127 MW in Spain, France and Poland in wind farms. It also has a 66 MW project under construction in Panama and has acquired 320 MW of photovoltaic plants under development in Spain.

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