Spanish utility Audax Renovables SA signed a 20-year contract with Chinese developer Trina Solar Ltd. to purchase 300 MW of electricity from planned photovoltaic facilities in Castilla La Mancha, Levante and Andalucia in Spain.
The contract, together with appropriate market conditions, may involve investments of more than €200 million, Audax said in a news release. The projects are planned to enter operations by the end of this year and early 2020.
The power contract meets "Audax Renovables' strategic aim of long term energy supply for its Spanish customers in order to provide them with 100% renewable energy, entirely greenhouse gas emissions-free, which will contribute to the protection of the natural environment," the company said.
Audax signed a 20-year agreement in February with Ireland's WElink Investment Holdings to purchase 708 MW of electricity from solar projects in Portugal and Spain.