Israel’s Noy Fund and green tech firm, Nofar Energy, have acquired Hive Energy (Hive)’s Sabinar solar project, located in Cuenca, Spain.
The deal includes rights to both phases of Hive’s Sabinar project, for which Hive are in the process of receiving all the relevant planning and environmental. Construction of the project is expected in summer 2021, and once complete the project will cover an area of 452 ha. The project will be constructed in two phases, with Sabinar 1 and 2 delivering approximately 169 MW and 83 MW of renewable electricity, respectively. The purchase was made through Noy Fund's and Nofar Energy’s joint venture, Andromeda Solutions, and includes the costs of construction.
In spring 2020 Noy Fund concluded the purchase of Hive’s neighbouring project in Cuenca, Olmedilla, as 100% project owners.
Hive continues to hold a significant presence in the Spanish solar market with a further pipeline of 1.5 GW of solar projects planned. Following its success in solar, Hive is developing new opportunities to deliver a clean future. The company is now developing 1400 MW of green hydrogen projects in Spain. Supporting its expanding activities in the country, it inaugurated its larger office in Alicante, Spain, in February 2021.
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Read the article online at: https://www.energyglobal.com/solar/30032021/hive-energy-sells-solar-plant-to-noy-fund-and-nofar-energy/