August 26 (Renewables Now) - The European Commission (EC) said Monday it has approved the joint acquisition of Spain-based solar project company PSFV Palma del Rio SL by French investment manager Mirova and power utility Engie SA (EPA:ENGI).
PSFV Palma del Rio is the owner of a solar farm of around 50 MW of total capacity located in the Spanish municipality of Palma del Rio. Prior to Mirova coming on board, the company was controlled by Engie.
The solar farm is under construction, the EC said.
In early August, Engie announced that, together with Mirova, it had closed a financing agreement for an undisclosed sum with French bank BNP Paribas SA (EPA:BNP), to complete the construction of the 50-MW Seneca solar farm in the province of Cordoba. Commercial operations for that plant are expected to commence in the last quarter of 2019.