Israeli outfit Ellomay Capital is to acquire Spanish company Talasol Solar, which is developing a 300MW photovoltaic facility in Spain, for about €10m.
The up to €255m project, which will be located in the municipality of Talaván in Cáceres, is expected to produce approximately 580 gigawatt-hours of electricity a year.
Ellomay said the project is scheduled to be construction ready within 10-15 months.
It said it expects that the capital to build the solar farm will come from banks, suppliers, equity or debt financing and potential partners.
The company added that no financing is currently in place for the solar farm.
Ellomay chief executive and director Ran Fridrich said: “The Talasol project is a material project, which we believe is going to be one of the largest PV projects in Europe.
“The high radiation in the Spanish peninsula, the significant decline of the panel prices and the relatively attractive finance costs, are expected to allow the Spanish solar market to become an advanced grid parity market.”
Image: Pixabay
