AERIF closes acquisition of 30-MWp solar farm in Spain

Solar power plant. Source: Gamesa Electric

June 30 (Renewables Now) - UK-based investor Aquila European Renewables Income Fund plc (LON:AERS) said on Wednesday it had wrapped up the acquisition of the 30-MWp Tiza solar PV farm in southern Spain that was first announced in mid-May this year.

The London-listed firm, also known as AERIF, bought 100% interest in the plant through its wholly-owned subsidiary Tesseract Holdings Limited. Financial details and the name of the selling party remain undisclosed.

One of the closing conditions was the signing of a power purchase agreement (PPA) for Tiza’s production output. In the latest announcement, AERIF said the signing took place recently, with energy firm Axpo Iberia as the off-taker. The fixed-price PPA with Axpo will run for six and a half years and cover 70% of P50 production, AERIF said.

The Tiza solar farm is located in Almeria province in Andalusia. Its annual production output is estimated at around 54 GWh per year.

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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