Spanish company Ence Energia is to sell five solar farms in Spain totalling 373MW to Naturgy for €62m.
Ence Energia said the asset rotation operation has been carried out with the aim of it continuing to invest and grow the renewable energy business and to support the guarantee of the electricity system supply.
The company will reinvest the €62m in new projects, focusing on renewable energy generated by biomass and solar, as well as energy storage.
Ence will continue to participate in the construction of the five facilities, which are located in Huelva, Seville, Jaen and Granada.
The assets already have network connection permits and secured locations.
Administrative processing is expected to be completed before completion of the sale to Naturgy in the coming months, Ence said.
The approximate deadlines for closing, which may be individual for each plant, varies between the fourth quarter of 2022 and the first quarter of 2024.