Ence completes acquisition of 50 MW Spanish CSP project from Iberdrola

Ence Energia y Celulosa SA has closed the acquisition of a 90% stake in the 50 MW Puertollano solar thermal power plant from Iberdrola.

The parabolic trough project is located in Castilla La Mancha, Spain. It generates 103,000 MWh annually and spans 287,760 square meters.

The agreed price amounts to EUR139.5 million (US$159 million), excluding a cash balance of EUR41.5 million (US$47 million). Additionally, a further earn-out up to EUR6.3 million (US$7 million) will come out later.

Ence Energia Solar has also assumed the ownership of a loan granted by Iberdrola Financiacion to Ibersol.