Through a subsidiary, S.A.G. Solarstrom will be partnering with Valsolar 2006 and Cavalum SGPS to develop and construct four PV plants in Badajoz, Spain (in the region of Extremadura), as part of their newly developed joint venture. The plants will have a total output of around 440MWp with the project holding a total investment volume in the three-digit million range.
S.A.G. Solarstrom is already constructing a 2.8MW ground-mounted project in Badajoz. Other projects include a 165MW plant in Bienvenida and three projects (at 55MW, 132MW and 88MW) developed in the district of Calzadilla de la Serena. The companies noted that all together, the plants could potentially generate 660,000MWh of energy per year after completion.
S.A.G. Solarstrom will hold, through its subsidiary, a 51% stake in the JV company. The companies advised that the agreement is still subject to different contractual conditions, but if all approval procedure goes as planned, then construction is slated to start in the second half of 2013.
Energy produced by the PV plants is anticipated to be sold to local energy providers under PPAs. The Extremadura region’s government has contractually guaranteed their support for the project in regards to cooperation with the authorities, the energy providers and the network operator REE.