Audax signs new PPA with Trina Solar
Audax Renovables and Trina Solar, global leader in photovoltaic energy in the world, sign a PPA for the purchase of generated energy of up to 300 MW, which will represent a large investment in Castilla La Mancha, Levante and Andalusia
Audax Renovables has signed a macro-power purchase agreement “PPA” (Power Purchase Agreements in English) with the Chinese company Trina Solar, a world leader in solar technology. These photovoltaic installations will have a capacity of up to 300 MWp, making this PPA one of the largest contracts of this type worldwide.
Through this framework contract, Audax Renovables will acquire for 20 years the electrical energy produced by the photovoltaic installations that Trina Solar will develop in the Spanish electricity market, specifically in Castilla La Mancha, Levante and Andalusia. Thanks to this contract and according to market conditions, this could involve investments of more than 200 million euros, favoring employment and the environment, without the need for subsidies or auctions.
The PPA contracts of this framework agreement will begin with the commissioning of each of the multiple photovoltaic installations, whose start-up is scheduled for the end of this year and the beginning of 2020. Their location has been established in regions of high solar radiation of Castilla La Mancha, Levante and Andalusia and will generate enough energy to supply more than 200,000 homes with 100% renewable energy.
Thanks to this PPA, investments worth more than 200 million euros would be made in different rural areas of Castilla La Mancha, Levante and Andalusia, boosting economic activity in these areas and favoring job creation. Additionally, since these investments are backed by a private PPA, instead of subsidies or public auctions, they will not entail any extra cost for the consumer, to whom in the past the premiums and subsidies for renewables have been passed on.
According to José Elías, CEO and founder of the Audax group, “every time a PPA is signed it is very good news for society and the end customer.” The reason, according to José Elías, is because “when renewable energy enters the electricity market, electricity prices drop, jobs are created and greenhouse gas emissions are reduced. All this, without there being any future extra cost for the consumer in the electricity bill because no premiums or public subsidies have been needed, as it is a private framework contract.”
These contracts will contribute to improving Audax Renovables' energy purchase price and consolidating the Audax Group's leadership position in the Spanish market, where it is the fourth largest supplier in the SME segment nationwide.
This PPA agreement is part of the long-term strategic energy supply objectives of Audax Renovables for the supply of its clients in Spain, which may be supplied with energy from renewable 100% origin and totally free of greenhouse gas emissions. thus contributing to the conservation of the environment.
The Group's strategy has focused in recent years on three fundamental pillars: a greater positioning in the Spanish market, via both organic and inorganic growth, a strong internationalization process with the entry into Portugal (2013), Italy (2014), Germany (2015), Poland (2016) and Holland (2017), and the maintenance and optimization of energy generation facilities through renewable 100% sources, located in Spain, France, Poland and Panama.
The Audax Renovables Group is in full growth, supplying energy in 2018 to more than 300,000 customers for a volume of 10.1 TWh, which represents a growth of 27.5% compared to the previous year. In addition to growing in business volume, the Audax Renovables Group has increased its operating profit (EBIDTA) by 44% compared to the previous year. The objective of Audax Renovables is to continue betting on renewable energies in the future and close new projects and PPAs (Power Purchase Agreements) that will give it an advantageous position in the global energy market. Last March 2018, Audax signed a PPA with Cox Energy, a contract that marked a historic milestone in the global energy market by becoming the largest agreement signed for the purchase of energy produced with solar photovoltaic technology to date. This PPA has now been surpassed by the PPA that Audax signed this February 2019 with Welink Group. The 708 MW of the agreement with Welink Group positions Spain and Portugal as the European countries with the largest volume of renewable energy marketed through this type of contract.
More about Audax Renovables
Audax Renovables is the result of the merger between Audax Renovables itself and its parent company, Audax Energía, which has given rise to an energy group with a workforce of more than 500 employees and a turnover of more than 1,200 million euros and which It currently operates in eight countries: Spain, Portugal, Italy, Germany, Holland, France, Poland and Panama.
More about Trina Solar
Trina Solar (Spain) Systems SLU is a wholly owned subsidiary of Trina Solar Co. Ltd. (hereinafter “Trina Solar”), a leading global solar solutions provider. Trina Solar provides comprehensive solutions for solar projects, including development, EPC (engineering and construction) management and sales of solar assets. The company has connected photovoltaic plants accumulating more than 2 GW around the world and has an extensive portfolio of projects globally, with more than 1.5 GW in Europe, more than 2 GW in Latin America and nearly 500 MW in Asia.