One of Spain’s leading electric utility firms- Endesa S.A. has reportedly acquired a 519 megawatts solar PV project line from Arena Power for an undisclosed amount. Reports have it that the former company executed this transaction through its renewable energy unit, Enel Green Power Espana (EGPE).
According to credible reports, the portfolio currently includes about 11 projects representing an investment of nearly USD 415 million, including the price of construction, acquisition, and start-up. The projects in the deal are situated across six prominent sites in the province of Huelva including Condado, Palma del, Gibraleon, Beas, Niebla, San Juan del Puerto, and Trigueros. Construction of these projects is anticipated to commence next year, with operations starting in 2024.
It has been claimed that together these sites are likely to power over 305,000 homes through a single transmission line connected to the Palos substation situated in the Huelva Industrial Park. The substation, as per reliable sources, provides electricity and power to oil, chemical, and metallurgical industries in the province.
Commenting on the latest acquisition, Rafael Gonzalez, Generation General Manager at Endesa, cited that the deal stands to a revolutionary step in the company’s development of the strategic plan from 2021 to 2023, and is also a demonstration of Endesa’s promise to the decarbonization of the Spanish economy.
Mr. Gonzalez stated that construction of renewable farms in the close vicinity of the areas of great power consumption is the most efficient way of developing a sustainable industrial activity in Huelva.
He further added that the company is planning on implementing these projects by developing a shared value to support local societies, as it has been doing in some of the other renewable sites over a while now.
Recently, Endesa, through its Enel Green Power Espana, had announced commencing its construction work on 4 solar PV projects, boasting of a combined capacity of 180MW, in Spain. These projects would cost the company somewhere around USD 150 million.