Spain’s Solar Energy Structure to Divest 90 MW of Solar Projects

Spain's Solar Energy Structure to Divest 90 MW of Solar Projects

Spain-based solar developer and installer Solar Energy Structure has entered into an agreement that paves the way for the divestment of up to 90 MW of PV projects. The name of the listed European independent power producer to whom the project has been divested has not been revealed yet.

As per the contract, three solar projects valued at EUR 15 million (USD 16m) will be on sale.

The portfolio that is being offloaded is presently in the mid-stage of development. They will be ready by 2025. The ownership will change hands after the achievement of the ready-for-construction stage. 2026 is the timeline that has been set for commercial operations.

As per the terms of the arrangement, Solar Energy Structure will be responsible for permission and grid-connection related needs for the projects. Once the sale is achieved, the firm will set sights on making reinvestment from the funds raised into new projects in the Iberian market.

“We look forward to progressing our pipeline in Spain to energization and contributing to the ambitious Spanish renewable transition,” said Chief Operating Officer, Kjetil Torper, Solar Energy Structure.

Currently, Solar Energy Structure has 4 GW worth of projects in the pipeline for development. The firm will be participating in the renewable energy auction in Spain that is to be held soon.