Smartenergy, Prodiel form JV to develop over 4 GW of solar PV in Spain

Swiss green power investor Smartenergy Invest AG and Spanish renewables EPC specialist Prodiel SL have set up a joint venture (JV) to develop over 4 GW of solar PV projects in Spain, the partners announced today.

Their JV, named Greenfield PV, started its activity with a team of over 50 specialists working on the 4-GW-plus portfolio, according to the press release.

The JV agreement is complemented by another transaction, which saw Smartenergy acquire a pipeline with over 1 GW of solar PV projects from Prodiel. Greenfield PV will provide development services for this portfolio as well, the partners said. It is unclear from the press release if these projects are also in Spain.

Financial details of the arrangements were not disclosed.

According to Prodiel’s website, the Spanish contractor has executed over 750 energy projects in 11 countries around the world, focusing mostly on solar PV and high-voltage infrastructure. Last year, the company partnered with another investment manager, Madrid-based firm Everwood Capital, to create a PV-focused JV with a target to develop gigawatts of solar power across several European and Latin American markets.

Choose your newsletter by Renewables Now. Join for free!