EDP Renovaveis (EDPR) has reached an agreement to sell a 104MW portfolio of operational solar farms in Spain to Tion Renewables.
The sale and purchase agreement is between a subsidiary of EDPR and Tion and concerns four operational assets.
One is located in Aragon and has been in operation for approximately one and a half years, and three are located in Andalusia, and have been in operation since November 2024.
The four projects benefit from contracted 15-year power purchase agreements.
The transaction is subject to precedent, regulatory conditions and other usual conditions for a transaction of this nature.
“This transaction is a landmark for Tion, demonstrating our ability to execute large-scale deals while securing a high-quality portfolio of assets from a prime developer,” said Christoph Strasser, co-founder of Tion.
He added: “Long-term PPAs like these are rare to find in the Spanish market and perfectly fit our strategy to grow and diversify our contracted revenue base.”