SAG Solarstrom to jointly develop 440 MWp of solar farms in Spain

Oct 11, 2012 - German solar power plant specialist SAG Solarstrom (ETR:SAG) said Wednesday it would participate in the construction of four photovoltaic projects with a combined capacity of some 440 MWp in the Spanish region of Extremadura.

The projects will be developed in Badajoz by a joint venture between SAG Solarstrom and Spanish renewable energy firms Valsolar 2006 SL and Cavalum SGPS SA. SAG Solarstrom will control 51% of the joint venture through a subsidiary.

The deal between the three companies is subject to various contractual conditions. If approved -- construction will begin in the second half of 2013.

The largest of the four solar farms with a capacity of 165 MWp will be built in the district of Bienvenida, while the other three with capacities of 55 MWp, 88 MWp and 132 MWp will be located in the district of Calzadilla de la Serena. The four plants are expected to generate 660,000 MWh per year, which would cover the power needs of some 150,000 average households. The output will be sold through power purchase agreements with local energy providers.

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