Solar park in Spain. Author: Som Energia Cooperativa. License: Creative Commons. Attribution 2.0 Generic
Spanish solar PV developer RIC Energy has sold a 115-MWp solar project it has been developing in central Spain to investment manager Everwood Capital, it said on Tuesday.
The Spanish investor bought the unnamed scheme for its Fund IV, which now commands a portfolio of around 1,000 MWp of projects. Financial details of the transaction were not disclosed.
The future solar farm will be located in the Castilian province of Toledo and hook to a substation in the Madrid region. For Everwood Capital, the location was important since Madrid is one of the main centres of consumption in Spain, according to the firm’s founding partner Jose Antonio Urquizu.
The size of the project will enable Everwood Capital to optimise construction, operation and maintenance costs, and long-term prices of selling the electricity, Urquizu explained.