Endesa has bought a portfolio of 11 solar projects that it says will help decarbonise an industrial area in southern Spain when operational in 2024.
The deal, carried out through Endesa’s Enel Green Power España (EGPE) subsidiary, will see the utility acquire 519MW of PV projects in Spain’s Andalucía region from local developer Arena Power. Endesa will invest around €350 million (US$416 million) to acquire and build the parks, with construction expected to begin next year.
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The 11 projects will be connected to a substation in the Huelva Industrial Park, which Endesa said is one of the largest energy-consuming industrial centres in Spain. This substation will meet the energy requirements of the chemical, oil and metallurgical centre, which is home to 19 industrial facilities.
Power will also eventually be used for a green hydrogen production facility planned by Endesa – one of 23 such projects the company is looking to develop in Spain.
Rafael González, general manager of generation at Endesa, said the portfolio acquisition demonstrates the company’s commitment to decarbonising Spain’s economy. “Constructing these renewable farms close to areas of great power consumption is the most effective way of making industrial activity sustainable in Huelva,” he said.
Endesa’s 2021-2023 strategic plan includes the development through EGPE of 3.9GW of renewables in Spain, 3GW of which will be solar PV, representing an investment of €3.3 billion. The company recently started construction work on four solar projects in the country that will have a combined capacity of 180MW.