Spanish pulp producer and energy group Ence Energia y Celulosa SA (BME:ENC) is selling a portfolio of 373 MW of solar PV projects in Spain.
The company said in a bourse filing on Wednesday that it has initiated the bid evaluation process to sell the portfolio.
The process is in its preliminary phase, during which Ence will be receiving non-binding bids. Negotiations with potential investors have not yet started, Ence said.
In the portfolio are five projects “located in areas with the highest solar irradiation rates in Spain”, according to the group. Ence said it has secured the sites and grid connection permits for all five, while permitting procedures are expected to be finalised in the coming quarters.
According to Ence’s financial results for the second quarter of 2021, the group has five PV projects totalling 373 MW in the region of Andalusia, southern Spain. The largest one of them is sited in Granada and will expectedly have 133 MW of installed capacity.
Apart from the solar quintet, Ence is also developing three projects for biomass-based plants in Spain, with plans to install 140 MW of capacity between them
As of the second-quarter earnings report, Ence operates eight power plants using forestry and agricultural biomass as fuel with 266 MW of aggregate installed capacity. The group sold its interest in a 50-MW concentrated solar power plant in Puertollano, Spain, in December 2020.
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