SAG Solarstrom JV to build 440 MWp solar plants in Spain

(SeeNews) – Oct 11, 2012 - German photovoltaic (PV) plant maker SAG Solarstrom AG (ETR:SAG) said Wednesday it will develop and construct four solar plants with a total output of around 440 MWp in Spain as part of a joint venture with local Valsolar SA and Cavalum SA.

The total investment in the four projects in in Badajoz, southeastern Spain, stands in the triple-digit million euro range, the German company said.

The project will consist of a 165 MWp plant in the district of Bienvenida and three further facilities with 55 MWp, 132 MWp and 88 MWp output, respectively, located in the district of Calzadilla de la Serena.

The construction of the solar plants will be launched in the second half of 2013.

Once completed, the four plants are expected to generate 660,000 MWh clean energy per year, which is enough to cover the electricity needs of around 150,000 four-person households, SAG Solarstrom estimated.

SAG Solarstrom will hold a 51% share in the joint venture company.

The German developer plans to sell the electricity produced by the solar plants to local energy providers via power purchase agreements.

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