Swiss energy company Axpo Group has entered into a ten-year power purchase agreement (PPA) with Spanish renewable energy operator Enhol to supply 3.7 terawatt-hours (TWh) of electricity, covering the entirety of Enhol’s wind assets in Spain.
This deal is the largest PPA signed by Axpo Iberia, a subsidiary of Axpo Group, and aims to support Enhol’s strategic reorganisation of its renewable energy operations across Europe.
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The agreement is set to bolster income stability for Enhol and underscores the growing importance of PPAs as vital risk management tools in evolving electricity markets.
The 3.7TWh deal equates to powering around 175,000 households and is expected to reduce annual CO₂ emissions by more than 160,000t.
Axpo Iberia CEO Ignacio Soneira said: “The volume and duration of the agreement underline our ability to structure complex, large-scale transactions in an increasingly demanding energy environment.
“With the signing of this PPA, both companies are advancing their respective growth and consolidation strategies in the European renewable energy market, contributing to the development of a more stable, competitive and decarbonised energy system.”
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By GlobalDataEnhol, an independent, family owned company, operates in more than 20 countries spanning four continents.
It plays a significant role in Spain’s renewable energy industry and is involved in several international wind power projects.
With a partnership spanning more than 20 years, Enhol has been a long-standing customer of Axpo Iberia.
This new agreement further solidifies Axpo’s role as a key partner for renewable energy producers, offering solutions that integrate risk management expertise and financial stability with extensive knowledge of wholesale energy markets.
Grupo Enhol co-managing directors Diego and Gonzalo Oliver said: “This agreement with Axpo reinforces our stability and strategic evolution of our renewable business in Europe.
“The deal reflects our commitment to sound financial management, a long-term industrial vision and strategic alliances with top-tier partners.”
Axpo Iberia, founded in 2001, offers market representation, control centre services and energy efficiency solutions, as well as supplying electricity, gas, solar energy, biomass and biomethane.
In January 2025, Axpo Nordic, part of the Switzerland-based Axpo Group, signed a long-term corporate PPA with Finnish renewable energy investor and producer Exilion Tuuli Ky.
