Nadara signs landmark 434MW hybrid PPA with Trafigura
Unlocking Spain’s next wave of renewable growth
Nadara’s largest ever Power Purchase Agreement (PPA) encompasses five solar PV and six wind assets in Spain, totalling 434MW
The agreement sees solar technology added to existing wind farms, making the hybrid PPA the first of its kind for Nadara
The 10-year partnership strengthens Trafigura’s renewable power offer
20 May 2026, Madrid, Spain – Nadara, a NextGen Independent Power Producer (IPP+) with operations in Europe and the US, has signed its largest ever Power Purchase Agreement (PPA) with Trafigura, a global leader in the commodities industry.
The 10-year agreement secures 434MW of renewable capacity across a total of eleven wind and solar assets in Spain, marking a significant step forward for hybridisation in European energy markets.
This multi-technology PPA, one of a very few of its kind in Europe, combines production from five solar farms and six wind farms, representing Nadara’s first hybrid deal. The agreement represents an innovative commercial model tailored to an increasingly volatile market environment.
By integrating new solar generation into Nadara’s existing wind sites, the agreement creates a complementary production profile that stabilises output, enhances value, and accelerates financing of additional renewable capacity.
The deal ensures long-term revenue certainty for wind assets while unlocking investment for new solar developments, directly supporting the expansion of Nadara’s Spanish portfolio.
Maria Mura, Head of Origination at Nadara, said:
By pairing complementary technologies and applying disciplined structuring with sophisticated risk management, we’re demonstrating that, even in a highly competitive market, new renewable capacity can be unlocked. The signing of this PPA with Trafigura shows how this approach can be scaled into tangible pipeline growth, delivering more renewable electricity to the grid.
Nicola Cagetti, Head of European Power at Trafigura added:
We are pleased to have signed this PPA with Nadara, which further expands our European renewable power footprint. This long-term, hybrid wind and solar agreement underscores our strategy to diversify Trafigura’s European renewable portfolio across key EU hubs, including Spain – where we already have a long-standing presence in the power market.
The PPA agreement covers output from Nadara’s hybridised sites at Esquileo, Dehesilla I, Dehesilla II, San Lorenzo C, and San Lorenzo D, as well as from the operational wind site La Dehesica and will come into effect between 2027 and 2028.