The renewable investment asset manager, Luxcara and Alpiq, an electricity producer and energy service provider, have signed a long-term power purchase agreement (PPA) for the Spanish solar photovoltaic project of El Salobral.
The project is located in the Cordoba municipality of Espejo. With a capacity of approximately 45 MWp, the solar plant will produce electricity from renewable sources equivalent to the consumption of more than 20,000 homes. “Already in 2015, we start concentrating on projects in grid-parity markets and on PPA structures with reliable buyers for our wind and solar portfolio. We are delighted to have formalized this agreement with Alpiq for our solar project in Spain,” says Philip Sander, CEO of Luxcara.
This is a “very important operation for Alpiq in Spain and we look forward to expanding the collaboration with Luxcara, here and in other European countries”.
“Alpiq has been strongly committed to the Spanish market for almost 10 years and maintains its vocation for growth in Spain, where we are very close to producers of renewables and cogeneration and waste plants, offering them tailor-made products to optimise their income and help them manage their risks, as well as providing a competitive gas and electricity supply,” says Alpiq’s country manager in Spain, Guillermo Negro. This is a “very important operation for Alpiq in Spain and we hope that we will be able to expand our collaboration with Luxcara in the future, here and in other European countries”, concludes Negro.
At the end of 2017, the El Salobral project was acquired by Luxcara for a portfolio of institutional investors. With the Guillena-Salteras solar project, the company added another solar project to this portfolio in December 2018.
Luxcara and Alpiq
Luxcara is an independent asset manager offering equity and debt investment opportunities to institutional investors in the international renewable energy market. Founded in 2009, Luxcara acquires, structures, finances and operates renewable energy and related infrastructure projects as a long-term investor with a vocation to remain in the capital. The company specializes in structuring electricity PPA agreements in a liberalized market. Luxcara’s portfolio includes solar and wind power plants throughout Europe with an installed capacity of more than 1 GW and an investment volume of more than 2,300 million euros.
The Swiss company Alpiq offers its customers comprehensive and efficient services in the field of electricity generation and marketing, as well as in energy optimization and electromobility solutions. Alpiq is active in the main European markets with unique expertise in the field of flexibility trading and cross-border trading. It offers solutions mainly oriented to the industrial sector such as the supply of gas and electricity, as well as market representation or risk management, with a diversified customer base in these sectors, from chemicals to ceramics, through automotive, food or paper.