MVA guides Axpo Iberia´s 5-year PPA with Grupo Enbol
MVA Asociados has assisted Axpo Iberia with the negotiation and execution with Grupo Enhol of a 5-year PPA
This PPA covers electricity generated by a new 50 MW wind farm under construction in the municipality of Buñuel (Navarra) since March 2021 and is planned to commence operation in July 2022.
Under the agreement, Axpo Iberia will be responsible for marketing the plant’s electricity during the entire term of the PPA. This reinforces the company’s long-term strategy for the Spanish renewables market and PPAs, consolidating its relationship of more than a decade with Grupo Enhol.
Ignacio Soneira, managing director Axpo Iberia, said: “We have worked closely with Grupo Enhol since 2006, providing services as selling agent, dispatching center, and various forms of guaranteeing revenue. With this new wind farm, we are taking a step forward in an exciting project that reinforces our mutual commitment to the environment and strengthens Axpo’s position in Spain.”
Renewable energy is the primary activity of Navarra-headquartered Grupo Enhol, which was founded in the 1930s and is 100% family-owned. The company provides comprehensive services for renewable energy projects, covering all phases of promotion, construction, operation, maintenance and optimisation of its own renewable assets and those of third parties. Grupo Enhol currently operates more than 700 MW of wind power in Spain and, as a result of its internationalisation, other countries such as Bulgaria and Mexico.
Diego Oliver Gimeno and Gonzalo Oliver Amatriain, co-managing directors of Grupo Enhol, said: “Building a new wind project in our home region is a great opportunity to ensure that Ribera de Navarra continues to lead the transition to a green economy through the generation of clean energy. Together with Axpo, we intend to strengthen the stable, lasting and sustainable collaborative relationships between both companies.”
The legal advice rendered by MVA Asociados covered all the different matters and legal documents of the deal, including Commercial, Regulatory and Financial Law issues.
MVA Asociados´ team was led by partner and head of the firm´s Energy practice Javier Montalvo (pictured left) and partner and head of Public Law Gervasio Martínez-Villaseñor (pictured right).