Spanish utility Audax signs up for another 300 MW of solar power

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Spanish energy company Audax has reportedly signed up for another 300 MW of solar power generation in the Iberian peninsula, a move which would take its portfolio in the region to a huge 1.7 GW.

Spanish news wire Montel today reported the Barcelona-based company has signed a 20-year deal with Chinese PV manufacturer and project developer Trina Solar, with the agreement related to a 300 MW portfolio of projects in the south and east of Spain that are due to come online between the end of this year and early next year.

Audax made headlines last month when it signed the world’s biggest private PPA, with Irish investment fund WElink for a 708 MW portfolio of solar projects in Spain and Portugal.

That deal meant Audax smashed its own record, having agreed a 660 MW power supply contract with Spanish peer Cox Energy in March 2018.

Montel reports the Trina deal will expand Audax’s Iberian PV generation portfolio to a huge 1.7 GW, easily the largest in the region and ensuring Audax’s dominance in a Spanish market which is expecting to see the 8.7 GW of renewable energy generation capacity tendered in the last three years come online in 2019.

Grid parity in Spain has also seen 2.7 GW of PPAs signed in the nation in just two years.