ABO sells Spanish PV portfolio, links debut Hungarian project

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
The Hungarian scheme of 6.2MW (5MW in actual load) secured 20-year feed-in tariffs from the KÁT programme (Credit: ABO Wind)

ABO Wind has reached key solar milestones across two of its European target markets, notching up a major sale in Spain and linking its first Hungarian PV project.

On Thursday, the German group said it has offloaded a 450MW portfolio of solar and wind it built in Spain to two as-of-yet-unnamed investors.

According to ABO’s statement, the renewable projects now being sold in the Southern European country remain unbuilt but have secured grid connection rights.

Approached by PV Tech, a spokesperson from the firm declined to identify the PV schemes now changing hands but said solar and wind each take up roughly half of the sold 450MW total.

The investor buyers, the spokesperson explained, have committed an initial amount but will be providing further income over the years, as ABO continues to progress with the developments.

Hungary debut reaches finish line

With headquarters in Wiesbaden, ABO Wind was founded in 1996 and has since gone on to link 1.5GW of wind, solar and biogas capacity worldwide, with a further 6.5GW now under development.

The firm, which typically develops and builds plants it then sells, is working on auction-backed projects in Greece and further schemes in Spain, France, America and Africa.

The group recently took its first Hungarian project to the finish line, a 6.2MW scheme – 5MW of which is the actual connected load – it had acquired in 2018.

After grid-linking the plant in the eastern town of Létavértes, ABO is open to selling the project – featuring Suntech modules – but knows 5MW may be too small for investors, the spokesperson said.

“We’re flexible, we’ve got enough capital to keep the project for a few years, while we build more projects which we can then combine into a sale,” they explained.


According to the spokesperson, ABO feels “bullish” about the solar prospects of Hungary, a country said by IRENA to host a 665MW PV market as of December 2018.

The firm now runs an office in Budapest and is working on a 5MW PV successor in the same region as the first. Construction may launch before the end of the year, weather conditions allowing.

ABO’s first 5MW plant in Létavértes secured 20-year feed-in tariffs of HUF32/kWh (US$0.1/kWh) from Hungary’s KÁT programme but support for future projects is unclear, the spokesperson said.

“The tariffs we got are part of an old scheme but the future is uncertain,” they added. “Hungary’s regulatory framework is not that complicated – the problem is there’s no plan for the next years.”

Read Next

April 9, 2021
Spanish independent power producer Opdenergy is preparing to launch an initial public offering to help fund the development of 3.7GW of renewables projects across Europe and the Americas.
April 8, 2021
Green hydrogen may become cheaper than natural gas by 2050, falling by 85% over the next 30 years, but declining costs in the solar sector will be crucial for the nascent technology's growth.
April 8, 2021
Iberdrola has formed a strategic alliance with insurance company Mapfre that will initially invest in 230MW of clean energy projects in Spain, including 130MW of solar PV.
March 31, 2021
Renewables investor Cubico Sustainable Investments has completed its acquisition of a European 272MW solar power platform called Grupo T-Solar from I Squared Capital.
March 30, 2021
Local authorities in New South Wales, Australia, have given French independent power producer Neoen the green light to develop a large scale solar-plus-storage production facility in the region despite receiving 50 complaints from members of the public.
March 29, 2021
Clean energy investment platform Renewable Power Capital (RPC) has announced the creation of a new joint venture that will develop and acquire 3.4GW of solar PV in Spain.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET