Spain's EiDF buys 75 MW of mature solar projects at home

EiDF solar park. Image by EiDF (www.eidfsolar.es)

November 16 (Renewables Now) - Spanish firm Energia, Innovacion y Desarrollo Fotovoltaico, or EiDF Solar, announced today the acquisition of a portfolio of 75 MW of solar PV projects in its home country.

The company closed the transaction for EUR 3 million (USD 3.4m), it said without naming the seller.

The acquired projects, located in the regions of Catalonia, Murcia and Navarre, are in advanced development stages, with construction and commissioning expected to begin shortly, EiDF said in the press release.

EiDF specialises in the installation of self-consumption systems for businesses, and is working towards establishing vertical integration of its services. The latest acquisition helps the firm strengthen its power generation division and expands the division's pipeline to 860 MW, EiDF said.

The firm projects the generation division will be able to rack up EUR 73 million in revenues in 2022.

The solar company said that it also plans to put around 50 MW into operation by the end of 2021 and early next year. The output from these plants will be delivered to EiDF's retail unit.

(EUR 1 = USD 1.144)

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