Energy and Environment and sustainability / Juan Cruzate / Xosé María Núñez /
G-advisory participates in the first long-term energy sale and purchase agreement with a sovereign guarantee in Spain
The companies Sonnedix and Sidenor Aceros Especial have signed the first long-term energy sale and purchase agreement for electricity-intensive industries. This is the first agreement of its kind backed by the Spanish Guarantee Reserve Fund for Electricity-intensive Entities (FERGEI) belonging to the Ministry of Industry, Trade and Tourism, whose operations are managed by Cesce. G-advisory took part in the project, in charge of the technical due diligence for the financial entities involved.
The renewable energy supplied under the long-term contract at a predetermined price (PPA) will come from the 36 MW solar photovoltaic plant owned by Sonnedix, Fraile and located in Herencia (Ciudad Real, Spain). The power supply commenced in March 2023 and will last for 12 years.