Statkraft and Spanish renewable energy supplier Audax Renovables have signed the largest long-term power supply agreement in Spain.
Under the terms of the agreement Statkraft will supply Audax with 525 gigawatt hours of electricity annually for a period of 10.5 years.
Audax will supply the energy, derived from Statkraft’s Spanish solar portfolio, to small and mid-sized enterprises and private households.
During the past 15 months Statkraft has closed several power purchase agreements for both fully merchant projects, as well as projects that were granted permission or won tenders in the Spanish auctions.
The power purchase agreement will support Spain in achieving its climate targets for 2020, namely a 20% share of renewable energy, according to Audax.
Audax chairman Jose Elias said: “This agreement is in line with our strategic objectives to source the most cost-efficient energy through long-term PPA contracts to boost our growth nationally and internationally.
“The PPA with Statkraft will enable us to offer highly competitive conditions and consolidate our position as the leading independent supplier of small and medium sized enterprises in Spain.”