Endesa has announced the acquisition of a 519MW of solar projects from Arena Power in Spain. The deal was executed through its renewable energy wing, Enel Green Power España. The portfolio consists of 11 projects which represent an investment of about $415 million including the price of the acquisition, construction, and start-up. Construction for these projects is set to commence next year with commissioning scheduled for 2024.
The projects in the deal are located across six sites in the province of Huelva including Palma del Condado, Gibraleón, Trigueros, San Juan del Puerto, Beas and Niebla. The 11 projects will be connected to a substation in the Huelva Industrial Park, one of the largest energy-consuming industrial centers in the country, and will power about 305,000 homes. This substation will meet the energy requirements of the chemical, oi,l, and metallurgical centers in the area.
The power from these projects will eventually be used for Endesa’s green hydrogen production facility. The deal represents a step forward in the development of the company’s strategic plan for 2021-2023, as well as a demonstration of Endesa’s commitment to the decarbonisation of the Spanish economy. The project is also set to create shared value benefits to local communities.
Endesa’s strategic plan for 2021-2023 includes the development of 3.9 GW of renewable energy in Spain. The projects will be carried out by its green energy arm, Enel Green Power España for an investment of Euro 3.3 billion. Earlier this week, the company began construction for four solar projects in the country that will have a combined capacity of 180MW.