March 18 (Renewables Now) - Polish solar projects developer R.Power Group has signed a deal to buy an 8.5-MWp solar farm project in the Portuguese region of Alentejo for EUR 6 million (USD 6.5m).
The solar park, consisting of bifacial modules and single-axis trackers, will have the capacity to produce some 17,000 MWh of electricity per year that will be sold under a power purchase agreement (PPA).
Przemek Pieta, co-founder and CEO of R.Power, stated that the company plans to build a portfolio of 500 MWp of solar projects in countries such as Portugal, Spain, Italy and Hungary in the coming years.
According to him, the region of Alentejo has the highest level of sunshine in continental Europe, which makes it possible to build zero-subsidy solar farms there.
(EUR 1.0 = USD 1.083)