Shell New Energies Holding Europe BV (Shell) has acquired Green Tie Capital’s (GTC) platform of 10 medium mature solar energy projects across Spain, with potential for 2 GW of solar power generation capacity.
Óscar Fernándex, Shell Spain Country Chairman, said: “Shell’s Group strategy is to lead the energy transition in the markets in which it operates. With this acquisition, we seek not only to increase the portfolio of renewable energy generation assets in the short term, but establish the capability to grow our renewable business in Spain further.”
“We are very happy to complete this important transaction, and hand over the stewardship to Shell,” Alvaro Garcia Borbolla, CEO of GTC, stated. “We will continue investing in opportunities based on technology and the environment to add value to our society.”
Spain is one of Europe’s biggest solar power markets, and solar is the fastest growing and lowest cost renewable electricity source available today.
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