Allianz Capital closes acquisition of 46 MW solar project in Portugal
Allianz Capital Partners (ACP) on behalf of Allianz insurance companies has closed the acquisition of the 46.1 MW Ourika project in Portugal. The solar farm is fully operational and has been developed by the WElink Group.
Ourika is located in Southern Portugal, around 170km south-east of Lisbon. It is capable of producing enough renewable electricity for approximately 23,000 average households of the region per year.
Having entered into a 20-year fixed price power purchase agreement (PPA), Ourika is one of the first large solar power plants in operation that has no guaranteed tariff supported by taxpayers, relying instead on a corporate PPA.
This is ACP's first investment in a solar project in Portugal. Allianz investments in the renewable energy sector now exceed 90 renewables projects, with a total of 83 wind parks and 8 solar farms located in Austria, Finland, France, Germany, Italy, Portugal, Sweden and the United States.
Country updates
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October 23, 2018
EIB grants EUR60 million loan to floating offshore wind project in Portugal
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October 22, 2018
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September 19, 2018
K2 Management agrees to acquire Cruz Atcheson
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September 13, 2018
REDEN Solar refinances solar assets in Spain and Portugal for US$116.6 million
REDEN Solar has announced that it has successfully completed the refinancing of its Portuguese and Spanish assets, raising a total of EUR100.5 million (US$116.60 million) in the process.
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