Sonnedix signs 12-year PPA for 36 MW Fraile solar farm in Ciudad Real

Sonnedix has signed a 12-year power purchase agreement (PPA) with Sidenor Aceros Especiales, a producer of long steel products, for the clean energy produced from the 36 MW Fraile solar photovoltaic farm located in Herencia, in Ciudad Real, Spain. 

The deal, guaranteed by the Spanish Export Credit Agency (Cesce), is the first energy purchase agreement signed with the support of the Spanish Reserve Fund for Guarantees of Electro-intensive Entities (FERGEI), implemented by the Ministry of Industry, Commerce and Tourism in collaboration with Cesce.

Sonnedix has developed the project in partnership with Bankinter e ICO, which acted as an interest rate hedge entity and Bondholders as an agent entity.