Spain's Grenergy starts up 12.5-MWp solar farm in Colombia

Spanish renewables developer Grenergy Renovables SL (BME:GRE) on Friday inaugurated its 12.5-MWp Tucanes solar PV farm in Colombia alongside the Colombian government representatives.

The Spanish company invested USD 11 million (EUR 9.9m) in the project, relying on financing granted by Colombian commercial bank Bancolombia SA (NYSE:CIB).

Over 23,700 solar panels were used in the construction of the plant, which Grenergy built at a site in the department of Bolivar.

The Tucanes solar farm should be capable of generating 140 GWh per year, or enough to meet the annual demand of more than 40,000 homes. Its output is placed with Colombian power company Celsia under a long-term power purchase agreement (PPA), Grenergy said.

Tucanes is part of a group of distribution projects totalling 72 MW that Grenergy is developing in Colombia. The Spanish company says it has a 1,000-MW portfolio of projects in the South American country, representing a total investment of USD 700 million.

(USD 1.0 = EUR 0.905)

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