Greek renewables developer Mytilineos has agreed to sell 100MW of PV projects in southern Spain to Aquila Capital for an undisclosed amount as the German investment firm continues to expand its European PV portfolio.
The Jaen and Guillena solar projects each have a 50MW capacity and are expected to come into operation by the end of Q3 2022. They are both located in the region of Andalucia and are currently under construction by the Mytilineos Renewables and Storage Development (RSD) business unit.
Andrew Wojtek, head of investment management at Aquila Clean Energy for EMEA, said he was very pleased with the transaction’s “strategic fit”.
“On the one hand these very advanced solar projects are a great addition to our local portfolio, with operations to start and investor returns to be generated still in this year,” said Wojtek. “On the other hand, this cooperation with a strong international company like Mytilineos offers great potential for the future.”
Aquila capital last month bought a controlling stake in 421MW of solar PV and 90MW of energy storage in Italy from Spanish solar company Soltec under a co-development agreement.
Nikos Papapetrou, general manager of the RSD business unit, said Spain was “one of the most important markets for Solar PV in Europe, with significant capacity increase targets”, with the Greek industrial group’s renewables and storage unit continuing at “full speed” following a strong 2021.
Papapetrou told PV Tech Premium last month that a strong 2021 should be seen in the context of a difficult year for solar, with a lack of module availability “for a major part” of the year.