Austrian energy company Verbund is buying the almost 148MW Illora solar farm in southern Spain from the renewables arm of BayWa for an undisclosed price.
The PV park, with a planned total capacity of 147.6MW, is set to enter operation in the first quarter of 2022.
Construction of Illora, which is located in Pinos Puente near Granada, started in May.
It comprises three PV system sections that will produce approximately 260 gigawatt-hours of electricity a year.
BayWa r.e global director solar projects Benedikt Ortmann said: “We are delighted about the successful collaboration with Verbund and are very proud of the implementation of the large Illora project, which ranks among our pioneering projects in southern Europe.
“Thanks to our many years of experience, our global network and fantastic team performance, we will be able to come in on schedule despite the restrictions caused by Covid-19 and delivery bottlenecks.
“Spain remains one of our core markets and we have been able to post strong growth here in recent years.”
Verbund chief executive Michael Strugl said: “The Verbund Strategy 2030 envisages significant growth in the area of renewable energies with the goal of achieving around 20-25% of total production from photovoltaics and onshore wind by 2030.
“In addition to entering the Spanish market, this transaction represents another important step on the way to the future of renewable energy.”