Total, through its wholly owned affiliate Total Solar International, has established its presence in the Spanish solar market through two agreements with Powertis and Solarbay Renewable Energy. It will develop nearly 2 GW of solar projects in the country.
Total Solar International and Powertis, a developer of utility-scale solar plants in Europe and South America, have agreed to establish a joint venture (65%/35%) to develop solar photovoltaic (PV) projects in Spain. Powertis will bring a pipeline of 800 MW of early stage projects to this joint venture. The joint venture will also develop further new projects.
Total Solar International has signed also an agreement to acquire 100% of a portfolio of solar PV projects which are being developed by the Spanish company Solarbay. The projects, which will be located in the regions of Andalusia, Aragon and Castile-La Mancha, represent a cumulative capacity of up to 1.2 GW.
The first project is set to begin operations by the end of 2020, with the ambition that all projects of both portfolios will be in service in 2023. Success fees will be paid by Total to Solarbay and Powertis along the steps of development of the projects.
Read the article online at: https://www.energyglobal.com/solar/11022020/total-to-enter-into-the-spanish-solar-market/