Sonnedix inks Spanish solar PPA

Apr 26, 2023 12:11 PM ET
  • 12-year supply agreement with Sidenor Aceros Especiales is guaranteed by the Spanish Export Credit Agency
Sonnedix inks Spanish solar PPA
Image: Sonnedix

Sonnedix has authorized a solar energy purchase agreement (PPA) with Sidenor Aceros Especiales, a producer of lengthy steel items.

The 12-year PPA, guaranteed by the Spanish Export Credit Agency (Cesce), covers output from the 36MW Fraile solar farm in Herencia, in Ciudad Real.

This is the very first energy purchase agreement authorized with the support of the Spanish Reserve Fund for Guarantees of Electro-intensive Entities (FERGEI), carried out by the Ministry of Industry, Commerce and also Tourism in partnership with Cesce.

Alongside the PPA, Sonnedix financed the solar plant with Bankinter e ICO, which served as rate of interest bush entity and also Bondholders as agent entity. On this procedure, Bankinter Investment has actually suggested Bankinter.

Carlos Guinand, Executive Chairman of Sonnedix, said: "We are very proud to have actually accomplished such a special agreement; it is not only our first business PPA in Spain, but also the very first purchase agreement of an electro-intensive plant through a State-backed guarantee, which indicates a more step absorbed regards to supporting and promoting the use of renewable resource in the nation.

" It indicates we are proactively joining this change, fulfilling our role as a key agent in the Spanish power change.

" As well as we certainly wish to replicate this very same structure with other electro-intensive customers in the nation."

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