Irish Firm Aer Soléir to Develop 130 MW Hybrid Project in Spain

Highlights :

  • The agreement allows Aer Soléir to enter the Spanish market.
  • It will enable Tartessos to enhance its position as a greenfield developer and Aer Soléir to expand its portfolio in a new market.

Ireland-based Aer Soléir and Spanish developer Tartessos Power Development have announced the signing of a development services agreement covering the co-development of a hybrid project of more than 130 MW in the Andalucía region of Spain.

Aer Soléir is focused on multi-technology renewable energy development, construction and operation with a particular emphasis on utility-scale onshore wind, solar, and energy storage projects throughout Europe.

The partnership allows Aer Soléir to enter the Spanish market to develop its first hybrid project. The agreement will see the two firms working closely together, enabling Tartessos to enhance its position as an accomplished greenfield developer and Aer Soléir to expand its portfolio in a new market.

As per the official statement of Aer Soléir, Jones Day acted as legal advisor and Evergy as technical advisor to Aer Soléir on the transaction. Agere Infrastructure Partners acted as financial advisor to Tartessos.

Tartessos has a strong presence across Spain and a robust greenfield renewable energy development portfolio.

Andy Kinsella, CEO, Aer Soléir stated, “The agreement signed with Tartessos Power Development represents a significant milestone for Aer Soléir, our first investment in the Spanish market, and also the introduction of our first hybrid project with an experienced and committed developer in the Spanish renewables market. Tartessos brings strong local expertise and knowledge to this collaboration enabling Aer Soléir expand into the Spanish market. This investment shows our commitment to grow our portfolio into new markets.”

Rainer Kistner, Managing Director, Tartessos Power Development, said, “The partnership between Aer Soleir and Tartessos Power Development is a perfect match: a well-established renewable energy developer with a 25-year track record in Spain joining forces with an international investor backed by a leading global provider of private capital for the energy transition & decarbonization sector. The envisaged location in Southern Spain is the ideal spot for an innovative hybrid project with the objective to produce during day and night renewable energy at lowest costs.”

As far as renewable development in Andalucía is concerned, recently energy conglomerate Cepsa has announced plans to invest EUR 3 billion in green hydrogen and additional EUR 2 billion for wind and solar energy.

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