Galp buys 223 MW of solar projects in Spain

Solar panels in Spain. Author: Jordi Domènech i Arnau. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

August 2 (Renewables Now) - Portuguese energy group Galp Energia SGPS SA (ELI:GALP) said today that it has agreed to acquire a 223-MW solar portfolio in Spain from Spanish solar company Enerland.

Galp signed the final agreements to buy, develop and construct one 62-MW cluster of ready-to-build (RTB) projects in Zaragoza province, and three schemes totalling 161 MW in advanced stages of development in the Castile and Leon, and Aragon regions of Spain.

The Zaragoza cluster is expected to reach commercial operation date (COD) in 2022, with the remaining three projects seen to follow in 2023, Galp said in a regulatory filing.

Financial details were not disclosed.

The acquisition will help the oil-and-gas major boost its total gross renewable energy capacity to around 4.1 GW in the Iberian Peninsula. The figure includes 926 MW that are already up and running.

As announced by Galp in the 2021-2025 strategic plan, the group will aim to grow its renewables to over 4 GW in operation by 2025, and 12 GW by 2030, while limiting the upstream spending only to already approved projects.

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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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