July 8 (Renewables Now) - Swiss solar power producer Edisun Power Europe AG (SWX:ESUN) has signed a deal to buy a 23-MW solar photovoltaic (PV) project in Portugal that is expected to enter the construction phase in the final quarter of 2019.
Having already secured its production licence, this subsidy-free solar park will be built on 54 hectares of land.
Upon commissioning next year, the plant will be capable of generating around 46 million kWh of electricity per year, enough to meet the consumption of some 12,000 inhabitants.
Edisun Power said that the investment in this asset will be financed from existing funds, with CHF 1.2 million (USD 1.2m/EUR 1.08m) in project financing along with a capital hike by means of a contribution in kind.
(CHF 1.0 = USD 1.008/EUR 0.898)