Audax Renovables and Statkraft sign the largest long-term PPA with immediate delivery in Spain
With immediate effect, Statkraft supplies Audax Renovables with 525 GWh of electricity per year for a period of ten and a half years. The volume could supply 130,000 Spanish homes with green energy for a full year. Audax Renovables will use it to supply SMEs and Spanish households.
Statkraft will supply power from its Spanish solar portfolio. Over the past 15 months, Statkraft has closed several power purchase agreements for both purely market-based projects and projects with guaranteed permit/tender winners in Spanish auctions.
With this agreement, Audax Renovables and Statkraft will help Spain achieve its climate objectives for 2020, that is, a 20% quota of renewable energies. Small and medium-sized enterprises (SMEs) represent a key component in this energy transition.
"This agreement is in line with our strategic objectives of obtaining the most profitable energy through long-term PPA contracts to drive our growth nationally and internationally. The PPA with Statkraft will allow us to offer highly competitive conditions and consolidate ourselves as the independent supplier leader of small and medium-sized companies in Spain," says José Elías, founder and president of Audax Renovables.
"Renewable PPAs are an important part of Statkraft's strategy to develop its market activities in Spain. The contract with Audax Renovables reinforces our position as leaders in this business. We are proud to be able to respond with confidence to the growing interest of the Spanish industry and Portuguese for renewable energy," says Hallvard Granheim, Executive Vice President of Markets and IT at Statkraft.
About Audax Renewables:
Audax Renovables is the result of the merger between Audax Renovables and its parent company, Audax Energía, which gave rise to an energy group whose activities focus on the supply of electricity and gas, as well as the production of renewable 100% energy. Audax is present in Spain, Portugal, Italy, Germany, Poland, Holland, France and Panama with more than 500 employees. By 2022, the company has set the goal of increasing the customer base from 305,000 to 500,000 and a total energy supply of 15 TWh. In addition, Audax foresees more than 1.5 billion euros in revenue and tripling the current EBITDA of 53 million euros. The BBB- rating facilitates access to project financing and establishes the Audax Group as an optimal partner for new PPAs. This places Audax in the ideal position for signing PPAs with independent producers.
About Statkraft:
Statkraft is a leading international hydropower company and is the largest renewable energy generator in Europe. The Group produces hydroelectric, wind, solar and natural gas energy and supplies district heating. Statkraft is a global energy markets trading company. Statkraft has 3,600 employees in 16 countries.
As a leading provider of PPAs, Statkraft is uniting pan-European electricity producers with trading companies and industries and developing new concepts that add value to both parties. Customers benefit from decades of experience in providing renewable energy at predictable and competitive long-term prices. With a portfolio of approximately 18,500 MW, Statkraft is one of the largest third-party renewable asset managers in Europe. The company is owned by the Government of Norway and has an A- credit rating.
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