Solar developer OX2 has sold 82MW of solar projects in Spain to Israeli independent power producer (IPP) Afcon Renewable Energy.
OX2 said the transaction was the company’s first sale in the Spanish market and included the project rights of solar projects located in Andalusia and Castilla la Mancha that were acquired in 2022. When operational, the estimated annual energy production from the solar farms is expected to be about 163GWh.
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OX2 CEO Paul Stormoen said the company had sold projects in six European markets to date.
In addition to this transaction, the company acquired the project rights to a 475MW solar PV project in Finland from Finnish PV developer SAJM Holding Oy in April.
The company also talked to PV Tech Premium about how to bring its experience in wind technology to the solar market in the Nordics, which allowed the company to have easier engagement with local stakeholders due to their recognition in wind onshore or offshore projects in these markets.
The company also focused on securing sites with low agricultural value and does not expect a trend of agrivoltaics projects similar to those in Southern Europe.