Renewable

August 13 (Renewables Now) - Spanish electric utility Endesa SA (BME:ELE) announced on Friday that it has acquired a 350-MW portfolio of wind and solar PV projects at home from ABO Wind Espana SAU, a company within German renewables group ABO Wind AG (ETR:AB9).

ABO Wind developed the entire portfolio and will continue to do so until the projects reach ready-to-build stage.

Endesa, which made the acquisition through its renewables arm Enel Green Power Espana, will invest EUR 315 million (USD 369.7m) -- a price that include the costs of purchase and construction of the projects, the utility said.

The portfolio contains three wind and two solar projects sited in the Spanish province of Cuenca. Construction of the plants is slated to commence in autumn of 2021, while the commissioning is seen at the end of 2022.

With the latest transaction, Endesa has accumulated close to 1,800 MW of new capacity acquired from third parties in line with its target to boost the amount of renewables on the Spanish grid, the company added.

(EUR 1.0 = USD 1.174)