Renewable-Energy-Industry.com

Business World of Renewable Energy

IWR Reuters News Center RTL 103 0347 1280 256

Onsite PPA: Saxovent Invests Double-digit Million Amount In Industrial Solar Energy In Spain

Berlin, Germany / Alicante, Spain - Saxovent Smart Eco Investments GmbH has announced its entry into the Spanish solar energy market. The Berlin-based project developer will develop, finance, construct and operate PV projects for commercial and industrial clients here under an onsite PPA contract model.

In order to provide optimal quality and service to clients, a cooperation agreement has been signed with Entoria Energy, a leading international developer of industrial rooftop systems. The partnership complements Saxovent's long-standing expertise as a renewable energy investor and IPP with a local team of experts in the technical design and implementation of rooftop PV systems. Saxovent will invest tens of millions of dollars over the next several years as part of the partnership to help mid-sized companies access low-cost, sustainably generated electricity, reduce operational costs and lower their carbon footprint.

"We are very happy to expand our solar activities to Spain with a strong partner such as Entoria. Few companies in the market combine experience in the onsite PPA market with profound engineering skills; together we can provide our Spanish customers a world class end-to-end service”, said Martin Mitscher, Head of Solar at Saxovent.

Onsite PPAs allow companies to purchase solar power generated directly at their site - the price is usually lower than the local utility's price and is fixed over the contract period, eliminating the risk of unexpected price increases.

Saxovent is a Berlin-based project developer and impact investor dedicated to climate protection. The company has been developing projects in the areas of wind and solar energy as well as sustainable construction for over 20 years. In addition to project development, Saxovent is active as a venture capital investor, for example in the field of agriculture, where it finances start-ups that contribute to climate protection with their technology.

Entoria Energy is a global developer, investor and operator of renewable energy systems, specialized in solar power systems for industrial and commercial customers. The company is active in Asia, Latin America and Europe and offers its customers customized and integrated power solutions.



Source: IWR Online, 17 Jan 2022