Spain's Solaria, Basque Country form renewables JV
Solaria Sigma PV park. Image by Solaria.
Spanish solar energy developer Solaria Energia y Medio Ambiente SA (BME:SLR) and the Basque Energy Agency (EVE) have formed a joint venture (JV) to develop solar projects and other renewables in Spain, the partners announced on Friday.
Solaria owns a 70% stake in the venture, named Indarberri, while EVE holds the remaining 30%.
Indarberri is currently promoting two 50-MW solar PV projects in the Basque Country's province of Araba. Electricity from these plants will be sold to companies in the Basque Country at competitive prices, the joint venturers said.
The JV agreement comes in response to the Basque Country's 2030 energy strategy, which outlines the Spanish region's road map to a competitive, sustainable and low-carbon energy system, the parties added.