December 24 (Renewables Now) - Spanish utility Endesa SA (BME:ELE) said on Monday it has acquired a 1,037-MW Spanish solar project portfolio from renewables infrastructure builder Prodiel SL for EUR 36 million (USD 39.9m).
Specifically, Endesa's renewables unit Enel Green Power Espana (EGPE) has purchased 100% of 13 companies that together hold ten photovoltaic (PV) projects. Prodiel will provide co-development services for these schemes under separate contracts worth a total of EUR 65 million.
The buyer estimates that projects with a combined capacity of 102.5 MW could be finalised next year, while the remaining assets are seen to be completed by 2022. All of the projects have secured connection rights with Spanish grid operator Red Electrica de Espana (REE).
When fully operational, these ten PV plants will generate 1,990 GWh per year, equivalent to the consumption of more than 500,000 families, and will be capable of offsetting over 1.6 million tonnes of carbon dioxide (CO2) emissions annually.
(EUR 1 = USD 1.109)