April 12 (Renewables Now) – Eire-based impartial energy producer (IPP) Alternus Vitality Group Plc (OSE:ALT) stated at the moment that it has signed definitive agreements to accumulate seven photo voltaic tasks totalling 228 MW in Spain.
“A longtime Spanish developer” is promoting the portfolio, which comprises tasks presently at mid-stage growth. Below the binding association, Alternus will purchase the tasks once they attain the ready-to-build (RTB) standing. That is anticipated to happen throughout the second and the third quarter of 2023, relying on allowing and appropriate grid connection circumstances, the Oslo-listed IPP stated.
The Spanish developer will assume all actions and prices of progressing the tasks previous to closing. Alternus expects to completely fund the acquisition and set up prices from debt services supplied at venture stage, it stated.
Alternus tasked its EPC subsidiary, Unisun Vitality BV, with the photo voltaic farm set up, whereas its O&M unit Uper Vitality BV will present operations and upkeep companies.
The photo voltaic farms are anticipated to succeed in industrial operation date throughout 2024.
The acquisition will increase Alternus’ pipeline in Spain to 263 MW of tasks. Final 12 months, the corporate acquired the 35-MW Totana photo voltaic growth, which is anticipated to succeed in RTB within the fourth quarter of 2023.
“Spain has one of the vital mature photo voltaic markets in Europe with a excessive stage of service provider and PPA tasks providing a number of routes to marketplace for this portfolio and future tasks. We sit up for progressing our pipeline of 263MW in Spain to energisation and contributing to the bold Spanish photo voltaic targets,” commented CEO Vincent Browne.