Allianz Capital Partners agrees to acquire 218.8 MW Solara 4 Vaqueiros solar project in Portugal

Allianz Capital Partners has signed an agreement to acquire the 218.8 MW Solara 4 Vaqueiros solar photovoltaic project located in Vaqueiros parish, Algarve region, South Portugal. 

With its capacity of 218.8 MW Solara can provide renewable energy for approximately 100,000 average households of the region per year. Solara is an important project for the area of Vaqueiros that is recently impacted by declining population. The project will bring economic benefit to the area, and 1,500 people will be employed on site through construction.

Solara has agreed terms for a 20-year fixed price power purchase agreement (PPA). The project is currently under construction with the planned commissioning in mid-2019.