March 26 (Renewables Now) - Pan-European equity fund Marguerite announced last week the acquisition of an 80% stake in a 50-MW solar photovoltaic (PV) project in Andalusia from Spain’s OPDEnergy for an undisclosed sum.
The ready-to-build project, located in Alcala de Guadaira near Seville, is part of the portfolio awarded to OPDEnergy in the last renewable energy auction in Spain. Following the sale, OPDEnergy will proceed with the construction as the engineering, procurement and construction (EPC) contractor. It will provide operations and maintenance (O&M) services as well as manage the technical and commercial activities of the plants after the commissioning. The construction is expected to wrap up by the end of 2019.
Once in operation, the Alcala de Guadaira solar plant is expected to produce an output of 100 GWh per year which will be sold to UK energy company Centrica plc (LON:CNA) under a long-term power purchase agreement (PPA).
In February, Marguerite acquired an 80% stake in two solar PV projects totalling 100 MWp, also from OPDEnergy. The three plants combined will be capable of producing enough renewable energy to meet the consumption of 78,000 households.