Axpo Iberia and Azora Capital sign PPA for a wind farm in Cuenca

29.07.21 - Axpo Iberia has signed a 10-year power purchase agreement (PPA) with Azora Capital for the sale of electricity from a wind farm under construction in the Spanish province of Cuenca, it was announced today. Axpo Iberia will also provide Azora Capital with representation services for the plant during the entire term of the PPA coverage.

Located in the municipalities of Torrejoncillo del Rey and Huerta de la Obispalía, construction of the 104.5 MW wind farm began in January this year. Operations are due to commence in April 2022. Owner Azora Capital is based in Spain with an international presence in Europe and the USA. Focused on asset investment and management, the independent company manages a renewable energy portfolio of more than 1 GW in Spain with assets in operation, under construction or in development.

Ignacio Soneira, Managing Director Axpo Iberia, commented: "I am confident that the signing of this agreement with Azora marks the beginning of a mutually beneficial relationship, with the prospect of more to come in the renewable energy sector. The agreement also demonstrates our continuing commitment to sustainability in line with the European Union’s energy transition objectives."

Axpo Iberia’s strategic support of renewable energy development in Spain and Portugal includes a wide range of customer solutions for long-term energy management adapted to the needs of each market. By facilitating access to long-term renewable energy, the company enables end consumers to meet their sustainability objectives. This strategy has allowed Axpo Iberia to gain a firm foothold in the sector, with more than 7 TWh of long-term energy contracts negotiated since the beginning of 2021.