Atlantica to buy 20-MW solar park in Colombia

Clean energy company Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has signed a deal to buy a 20-MW solar plant in Colombia as part of its first such investment in the country.

Under the terms of the deal with a unit of Canadian utility Algonquin Power & Utilities Corp (TSE:AQN), Atlantica will pay about USD 20 million (EUR 16.5m) to acquire the asset once it becomes operational in mid-2021. The two parties have also agreed to co-invest in an additional 30 MW of solar parks in the country.

The project comes with a 15-year power purchase agreement (PPA) in place. It is currently being built by Algonquin’s international joint venture, AAGES. The latter is also going to construct the additional solar parks should the partners decide to proceed with the investment.

(USD 1.0 = EUR 0.824)

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