Endesa buys 419 MW of mature solar projects in Spain

Endesa team building a solar farm in Andalusia. Image by Endesa (www.endesa.com)

November 8 (Renewables Now) - Spanish utility Endesa SA (BME:ELE) announced today that it has acquired 419 MW of solar projects at home from Fotowatio Renewable Ventures (FRV), a renewables developer and part of Abdul Latif Jameel Energy.

Endesa closed the transaction through its renewables unit Enel Green Power Espana.

The projects will entail an investment of over EUR 300 million (USD 346.9m), including costs of the acquisition and construction.

The future solar farms will be located in the Andalusian provinces of Seville, Cadiz and Cordoba and in Zamora, a province in the Castile and Leon region. Right now, the projects are in an advanced stage of the permitting process, Endesa said.

According to the utility company, FRV sold the projects as part of its usual strategy to rotate non-strategic assets to finance its investment plan in Spain.

With the latest acquisition, Endesa has accumulated over 2 GW of new capacity purchased from third parties.

(EUR 1.0 = USD 1.156)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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