Galp buys stake in 450-MW Portuguese PV portfolio - report
Solar farm in Portugal. Author: Hugo Cadavez.
Portuguese energy conglomerate Galp (ELI:GALP) has acquired a 50% stake in 450 MW of photovoltaic (PV) projects in Ourique town, local newspaper Expresso reported over the weekend.
Specifically, Galp is now an equal partner in the two PV projects alongside investment firm Alpac Capital.
According to the article, the total investment for the installation of these two solar plants is of some EUR 315 million (USD 358.34m). They will bi built in phases. The largest of the two power parks, with 250 MW of capacity, has already received permission to be connected to the electricity grid by Portuguese power utility Redes Energeticas Nacionais (REN).
In February, Galp Energia announced it is targeting around 10 GW of installed renewable power generating capacity for 2030.