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TerraForm closes 100-MW CSP buy in Spain

CSP park. Source: Grupo T-Solar (www.tsolar.com).

February 20 (Renewables Now) - US renewable power producer TerraForm Power Inc (NASDAQ:TERP) has acquired two concentrated solar power (CSP) plants totalling roughly 100 MW in Spain from NextEra Energy Spain Holdings BV, a Netherlands-based unit of NextEra Energy Inc (NYSE:NEE).

A wholly-owned unit of TerraForm Power paid a total equity purchase price of EUR 94.1 million (USD 101.5m) plus working capital adjustments for two 49.9-MW CSP plants, each coming with nine hours of storage capacity.

The company said in a stock market filing that the acquired plants are regulated under the local framework for renewables, with around 19 years of remaining regulatory life.

The plants are located near TerraForm’s existing Spanish CSP assets and together employ a staff of 64.

(EUR 1.0 = USD 1.079)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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