Q Energy has closed a 76MW Spanish solar portfolio sale to an international investor with a focus on renewable energy.
The projects, in the Spanish province of Ciudad Real, comprises two separate solar sites with 38.3MW capacity each in the municipalities of Manzanares and Brazatortas.
Construction is underway and both developments are expected to begin operations in 2024.
Q Energy, a subsidiary of the South Korean company Hanwha Solutions, will supply modules on trackers for the projects.
The transaction includes agreements for construction, operation, and maintenance of the plants.
Hanwha Solutions is active across the value chain of large-scale green energy projects and has a development pipeline of around 15GW in Europe and a strong footprint on the Iberian Peninsula with a 6GW pipeline in Spain alone.
Head of Green Energy Solutions Division Jaehan Lee said: “We are experiencing a high demand for high-quality PV projects and for cooperation with experienced developers who can also take over the construction and subsequent operation and maintenance of the systems.
“At Q ENERGY, we have the right offers and expertise to do this.
“The negotiations for the current sale were completed after only three months. We are also considering the transaction of further selected projects.
“However, our focus remains on the successful development of our existing projects and the simultaneous expansion of our pipeline in the country.”