Axpo signs a series of Power Purchase Agreements (PPA) with Aquila Capital, for a 25 MW solar portfolio in Portugal.
These agreements support the ambitions of both companies to contribute to the global energy transition.
Axpo buys renewable energy from Aquila Capital
Long-term PPAs have a competitive pricing structure and a term of between five and seven years.
Axpo Iberia will purchase the renewable energy for the four solar power plants, which are part of Aquila Capital’s Portuguese portfolio of around 700 MW.
The company will also provide representation services.
The plants have an installed capacity of around 25 MW and will generate around 58 GWh ofsolar energy per year.
The energy produced will be equivalent to the annual energy consumption of around 11,000 Portuguese households.
What’s more, it will avoid the annual emission of over 12,000 tonnes of CO2.
Advancing the energy transition
“This is the first time we have obtained a series of PPAs for an entire portfolio in Portugal. The agreement supports our ambition to advance the energy transition and our commitment to a carbon-free economy. We are delighted to have Axpo as a strategic partner in achieving this goal,” says Marcos Dominguez, Head of Power Markets at Aquila Capital.
“The signing of this latest agreement further strengthens our position in the long-term power purchase market in the Iberian Peninsula. It also underlines the excellent relationship we have enjoyed for many years with Aquila, a solid and trusted partner. We are convinced that our collaboration will continue to contribute to decarbonization through the promotion of sustainable and financially profitable projects,” adds Ignacio Soneira, Managing Director of Axpo Iberia.
This series of Power Purchase Agreements (PPAs) will therefore fulfill the ambitions of both companies in supporting Portugal’s energy transition.
What’s more, it will strengthen the Swiss producer’s position in the Iberian Peninsula’s power procurement market.
