- Press Releases
March 8 (Renewables Now) - Spanish energy utility Endesa SA (BME:ELE) said it has acquired a portfolio of 519 MW of solar photovoltaic (PV) projects located in Huelva province, southern Spain.
The company bought 11 projects from Arena Power, a Spanish developer and an emerging independent power producer, with plans to invest around EUR 350 million (USD 415.6m) to get the portfolio off the ground. This price includes the cost of the acquisition, construction and commissioning, Endesa said.
The deal was concluded through Endesa’s renewables business Enel Green Power Espana.
The 11 solar farms will form a cluster stretching across six towns in Spain's southwestern province. The plants will be connected to a substation that serves a number of chemical, oil and metallurgy sector companies and facilities located within the Huelva industrial zone.
Endesa said that it was the sunny location and proximity to large industrial consumers that made the portfolio one of the most attractive in Spain. The company counts on the new capacity to be available to feed its green hydrogen projects it presented to the Spanish ministry for the ecological transition, it added.
Endesa expects to begin construction works in 2022 and have the solar farms in operation in 2024.
(EUR 1.0 = USD 1.187)