Axpo Iberia has signed a series of power purchase agreements (PPAs) with Aquila Capital, an international investment company focusing on renewable energies. In a major milestone for the Axpo subsidiary’s PPA business, Aquila Capital will supply it with 100% renewable energy generated in four solar plants in Portugal.
The long-term PPAs have a competitive price structure and a duration of between five and seven years. Axpo Iberia will purchase renewable energy from the four solar plants, which are part of Aquila Capital’s Portuguese portfolio of around 700 MW, and provide them with representation services.
The plants have an installed capacity of around 25 MW and will produce about 58 GWh of solar energy per year. The energy generated will be equivalent to the annual energy consumption of around 11,000 Portuguese households and avoid the emission of more than 12,000 tonnes of CO2 per year.
Authority comment
The agreement supports Aquila Capital's ambition to drive the energy transition forward
Aquila Capital Director of Power Markets Iberia, Marcos Dominguez, said: “This is the first time we have secured a series of PPAs for an entire portfolio in Portugal."
"The agreement supports our ambition to drive the energy transition forward and our commitment to a carbon-free economy. We are pleased to have Axpo as a strategic partner in achieving this goal.”
Strengthening position in the long-term
Ignacio Soneira, Managing Director Axpo Iberia, added: “The signing of this latest agreement further strengthens our position in the long-term power purchase market on the Iberian peninsula.
"It also underlines the excellent relationship we have enjoyed for years with Aquila, a strong and trusted partner. We are confident that our collaboration will continue to contribute to decarbonization through the promotion of sustainable and financially profitable projects."