Endesa acquires 1,037 MW PV capacity in Spain

Endesa, through its renewable energy subsidiary Enel Green Power España, and Prodiel have signed an agreement where Endesa acquires 100% of the capital of 13 companies that own 10 photovoltaic projects in Spain, worth EUR36 million (US$40.2 million).

In addition, the agreement reached by the two companies also includes the signing of contracts for which Prodiel will be responsible for the provision of co-development services for these projects, for an amount of EUR65 million (US$72.6 million), which also includes local taxes for the construction and payment of network connection costs.

The thirteen acquired companies have 1,037 MW of capacity to be developed through 10 projects. The 102.5 MW could be completed and launched in 2020, and the rest will be developed until 2022. Upon completion, the estimated production of all these projects will amount to 1,990 GWh per year, equivalent to the consumption of more than 500,000 families. The facilities will be capable of offsetting over 1.6 million tonnes of carbon dioxide (CO2) emissions annually.

Prodiel has a portfolio distributed throughout the Spanish geography. The acquired companies have projects in Huelva (more than 30 MW), Seville (3 projects totaling more than 200 MW), Badajoz (150 MW), Cáceres (50 MW), Granada (329 MW), Valencia (50MW), Barcelona (45 MW) and Soria (180 MW). All these projects acquired from Prodiel have REE connection rights.

The construction of this renewable capacity responds to Endesa's strategy of decarbonizing its generation mix in 2050 according to the latest Strategic Plan (2020-2022).