Israel's Noy Fund, Eranovum close PPAs for 324 MWp of solar in Spain
Solar park in Spain. Author: Som Energia Cooperativa. License: Creative Commons. Attribution 2.0 Generic
Israel’s Noy Fund and Spanish investment and management services firm Eranovum have closed two power purchase agreements (PPAs) to supply electricity from a pair of solar farms with a total of 324.2 MWp that they have in Spain.
The off-taker is Telecor SA, part of Spanish department store chain owner El Corte Ingles Group and provider digital products and services, power management, and telecommunications solutions.
Law firm Watson Farley & Williams (WFW), which advised Noy Fund and Eranovum on the PPAs, announced the news on Wednesday.
Telecor will be served electricity from the 169-MWp Olmedilla and the 155.2-MWp Sabinar I solar farms. These projects are Noy Fund’s first investments in Spain. Eranovum is understood to be the fund’s local partner in the country.
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