EIDF Solar, a Spanish energy company, has announced the purchase of four solar projects in Spain with a combined capacity of 252 MWp. Two of the four projects, with a combined capacity of 102 MWp, are situated in Castilla La Mancha and are connected to the transmission grid. Reportedly, both projects are in the advanced processing stage and have already secured the necessary authorisations, licences, and land.

The Spanish grid operator Red Eléctrica de Espana (REE) has issued access and connection permissions for the projects, which are awaiting administrative approval. The two projects are expected to attain ready-to-build (RTB) status by the end of 2023. The two additional projects, all of which are in Castilla y León, have a combined capacity of 150 MWp. These two projects are connected to the power transmission network. The acquisitions have increased the company’s pipeline to more than 2.4 GWp.

In July 2022, EiDF reported a turnover of $180.8 million in the first half of the year, exceeding the objectives set in its Business Plan. The company has also set a target of €299 million for 2022. Its recorded earnings before interest, tax, depreciation and amortisation (EBITDA) were €26 million, 86.6 per cent of its target for the year.