FRV starts power production at 138-MW solar park in Spain

FRV San Servan PV plant. Image by FRV.

January 28 (Renewables Now) - Madrid-based developer Fotowatio Renewable Ventures (FRV) said on Thursday that its 138-MW San Servan 220 solar PV farm in the Spanish region of Extremadura started producing power.

The complex is made up of three parks -- SS6, SS7 and SS8,-- and covers an area of 256 hectares (632.6 acres) in the municipality of Solana de los Barros, Badajoz province.

Now that it is online, San Servan should be able to generate approximately 289.55 GWh per year, enough to meet the demand of up to 88,500 households, the firm said.

French investment bank Natixis provided project finance for San Servan 220, while its compatriot Engie (EPA:ENGI) signed a power purchase agreement (PPA) with FRV to procure the plant's output.

FRV, which is part of Saudi Arabia's Abdul Latif Jameel Energy, is aiming to invest more than USD 1.5 billion (EUR 1.3bn) in order to reach 4 GW of installed capacity in 2024. In Spain, the company recently obtained project finance to build the San Servan 3, 4 and 5 solar farms for a total of 150 MW in Solana de los Barros.

(USD 1.0 = EUR 0.896)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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