Shikun & Binui and Sunflower to sell 13 MW of solar assets in Spain

Two Israeli companies, Sunflower Sustainable Investments and Shikun & Binui Renewable Energy (SBRE), have announced that they are selling their interests in 13 MW of Spanish solar assets.

The companies are selling their stake for a total of €45 million (US$ 50 million). According to Shikun & Binui, the purchase comprises two solar farms of 7 MW and 6 MW. The last one is still pending clearance from its financing bank.

In the photovoltaic (PV) field, SBRE currently operates 15 MW of PV installations in Spain (50% ownership) and 26.2 MW in Israel. It is currently constructing plants with 18 MW of capacity, and developing 165 MW. To date, SBRE has realized 24 MW of PV installations.

Sunflower invests in renewable energy projects. In 2008, Sunflower started its activity in the renewable energy field by investing in PV plants in Spain, and in 2010 Sunflower expanded its investments in the PV field also to Italy and Israel. Since 2010, Sunflower has dramatically expanded its activity: the capacity of its projects in MW and the investment in projects were tripled (29 MW to 81 MW and US$67 to 220 million)