Saeta Yield to acquire CSP assets in Spain
The Board of Directors of Saeta Yield has approved the acquisition of two 49.9 MW solar thermal power plants from Bow Power, a subsidiary of ACS Group and Global Infrastructure Partners, for an amount of approximately US$132 million. The concentrating solar power (CSP) plants are located in the province of Badajoz, Spain.
The two solar concentrate power farms are Extresol 2 and Extresol 3, and each of them has 49.9 MW. Both solar farms are located in Torre de Miguel Sesmero, Badajoz, and occupy an extension of 200 hectares with a power generation capacity of 170.000 GWh each.
The two solar plants were developed by Cobra, an ACS subsidiary. The turbines were provided by Siemens while the parabolic troughs were provisioned by SENER. Endesa is purchasing the electricity from the plants through a 25 year power purchase agreement (PPA).
The 49.9 MW Extresol 2 solar farm started commercial operation in April, 2010 while the 49.9 MW Extresol 3 solar plant started its operations in August, 2012.
According to Saeta Yield, the expected, accumulated, unlevered and recurrent annual cash available for distribution (CAFD) of the two CSP plants is US$14 million, representing a cash yield of around 10.5%.
With the acquisition of these two solar assets, Saeta Yield has 21 renewable energy plants in Spain. Five of them are CSP plants, totaling 250 MW.
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