Audax Renovables signs PPA for 700 MW solar projects in Spain and Portugal

Audax Renovables S.A. has announced that it has signed a power purchase agreement (PPA) with WElink Investment Holdings for photovoltaic solar installations developed by WElink Group in Spain and Portugal, with a total installed capacity of up to 708 MW.

The PPA includes Solara4, a 218.8 MWp power plant currently being built by in the Portuguese village of Alcoutim, located in the district of Faro, in the Algarve region.

Composed of 700,000 high efficiency solar modules, the plant will be the largest solar installation in Europe that is backed by a long-term private PPA to be constructed without subsidies.

Solara4 is expected to be connected to the grid by mid-2019. It will generate enough energy to supply more than 100,000 homes.

Earlier this month, Audax signed a PPA for the 46 MW Ourika solar plant, also developed by the WElink Group. The company inaugurated the plant in August 2018, at which time it was the largest photovoltaic installation in Europe to be operating without public subsidies.