Aquila Capital and Axpo, a Swiss renewable energy producer and specialist in wind and solar energy trading, have agreed on a series of power purchase agreements (PPA) and representation services for a solar PV portfolio located in Portugal.
Under these PPAs, Axpo Iberia is committed to provide representation services for the solar PV plants and will purchase 100 per cent renewable energy from Aquila Capital from the four assets of the portfolio.
With the recent signing of the last PPA, Aquila Capital secures this series of long-term power purchase agreements with Axpo, which have a competitive price structure and a duration of between five and seven years.
The solar PV portfolio has an installed capacity of around 25 MW and will produce about 58 GWh of solar energy per year. In addition, the energy generated will avoid the emission of more than 12,000 tons of CO2 per year and will be equivalent to the annual energy consumption of around 11,000 Portuguese households.
“This is the first time we secure a series of PPAs for an entire portfolio in Portugal. This 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”, says Marcos Dominguez, Director of Power Markets Iberia at Aquila Capital.
Ignacio Soneira, CEO of Axpo Iberia, says: “The signing of this latest agreement underlines the perfect collaboration we already have with Aquila for years, a strong and trusted partner that helps to further strengthen our position in the long-term power purchase market in Iberia. We are confident that this collaboration will continue in the future to contribute together to decarbonisation through the promotion of sustainable and financially profitable projects.”