The independent power producer Alternus Energy has acquired 228MW of Spanish solar projects.
The company has already signed agreements which take its Spanish pipeline to 260MW. It inked agreements to acquire seven solar projects from a renowned Spanish developer.
With the latest agreements, the company is considering its growth in the Spanish solar market.
It has been reported that "Alternus has executed a binding purchase agreement to acquire the projects at ready-to-build (RTB) status."
According to the company, the projects are currently at mid-stage development and are likely to reach RTB status during the second and third quarters of 2023.
The company informed that these projects are likely to achieve commercial operation date in 2024.
Alternus chief executive Vincent Browne commented, “This acquisition once again demonstrates our successful local partnership business model that underpins our growth. Spain has one of the most mature solar markets in Europe with a high level of merchant and PPA projects offering several routes to market for this portfolio and future projects."
He further stated that the company aims to progress their pipeline of 263MW in Spain and to help Spain achieve the solar targets.
Regarding the latest projects, Alternus’ EPC subsidiary Unisun Energy will install the projects and operations and maintenance subsidiary Uper Energy will provide O&M services, a report mentioned.