ABO Wind has announced its success in feed-in tariff auctions across a portfolio of Greek and Irish wind and solar totalling almost 80MW.
The developer has secured a long-term feed-in tariff for two Irish wind farms with capacities of 16.8 and 10.8MW (reported in the last issue of subscriber-only reNEWS), as well as for five solar farms planned in north-western Greece, each with a capacity of 10MW, in separate competitions.
The two Irish wind projects already have the necessary permits and are ready for construction.
Due to grid constraints, delivery and construction times, ABO Wind expects to commission the first wind farm at the end of next year and the second one in 2023.
The five solar projects of the Margariti cluster in Greece’s Epirus region will feed the electricity into the public grid via a joint transformer station but several permits are still required before construction, with commissioning slated for the first half of 2022.
ABO Wind has been active in Greece since 2017 and the company’s 38MW Megala Kalyvia solar farm is currently in the final stages of construction. ABO Wind acquired these two projects during development and then completed them.
ABO Wind has also raised €4m through an issue of 200,000 new shares which it said would enable it to seize opportunities and accelerate project implementation.
Most of the new shares were subscribed to by two equity funds managed by the Belgian investment manager Capricorn Partners.
ABO Wind had already increased its equity from around from €89m to €104m in the previous business year and this is its second capital increase in 2020.
The company said it has grown strongly in recent years and is currently working in 16 countries on new wind and solar energy projects with a capacity of more than 12GW.