Aquila Capital has acquired late-stage solar projects in Spain totalling 100MW.
Aquila is acquiring the two 50MW projects – Jaen and Guillena – in Andalusia from Mytilineos, which developed them through its renewables and storage development business.
The solar farms are planned to enter commercial operation by the end of the third quarter of 2022.
Nikos Papapetrou, general manager of Mytilineos’ renewables business, said: “We are excited about this transaction in Spain.
“This is yet another important milestone for our development strategy in Europe, and follows closely on our recent agreement in Romania to dispose of two solar PV projects.
“Spain is one of the most important markets for Solar PV in Europe, with significant capacity increase targets, and we are proud to contribute towards that direction.
“We are also delighted to enter into this agreement with Aquila Capital and envisage furthering the cooperation of the two organisations.”
In addition, Mytilineos is implementing a project development and investment platform for solar PV and storage projects and has in operation approximately 118MW of solar in Australia and 3.5MW in Cyprus, which commenced contributing to the Company’s financial results from the second half of 2021.
These projects are part of a total pipeline of solar PV and energy storage projects under various stages of development that exceed 4GW, located in Iberia, Italy, UK, Cyprus, Romania, Chile, Australia and South Korea.