Sonnedix to enter EEX as first Solar IPP
The European Energy Exchange (EEX) welcomes Sonnedix, the global independent solar power producer (IPP) as a new trading participant on the exchange. Sonnedix, currently managing over 1 GW of operational capacity across 8 countries, has been admitted to trade all EEX power derivatives products.
Axel Thiemann, CEO of Sonnedix said: “This is a very exciting milestone for Sonnedix, as we become capable of hedging in a transparent way against the risk of future price changes, facilitating short to long-term portfolio optimization globally with shortened negotiation times, and reduced counterparty risks.”
Sonnedix is the first renewable energy IPP to join EEX with a strong presence in Spain and Italy, making this a great opportunity for both companies. As an IPP, Sonnedix develops, builds, and operates solar power plants globally, for the long term. Becoming an EEX trading participant allows Sonnedix to reinforce its commitment to operational excellence and to access a large network of trading participants. Currently, 274 companies can trade the products on the EEX power derivatives market.
Steffen Köhler, Chief Operating Officer of EEX, adds: “We are very happy to welcome Sonnedix as the first solar IPP to join the EEX trading community. The ability to trade power derivatives will allow them to hedge short and long term risk exposure for their solar parks. This is further proof that our Power derivatives are valuable risk management tools for renewable energy projects which are exposed to merchant power prices.”
The admission of Sonnedix at EEX further diversifies the member structure and strengthens the role of EEX as market platform for renewable energy as part of the overall energy mix.
Sonnedix admission has been possible due to the hard work from both EEX’s power derivatives sales team in Southern Europe and Sonnedix’s team, with a long-stablished relationship during years.
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