Foresight invests in 26.1 MW Virgen del Carmen solar PV project in Huelva
Foresight Solar, a fund investing in a diversified portfolio of ground-based solar PV assets in the UK and internationally, has announced the acquisition of its first solar asset in Spain.
The 26.1 MW Virgen del Carmen asset, based in Huelva, in the South-West of the country, represents an investment of EUR20.2 million (US$23.9 million) once construction is completed and will benefit from a long-term Power Purchase Agreement (PPA) entered with Shell Energy Europe Limited, a subsidiary of Royal Dutch Shell Plc, for the sale of electricity under a fixed price until 2030. The asset is fully consented, with construction expected to start at the end of September 2020, with operations targeted to start in the third quarter of 2021. The acquisition will be funded using the company's revolving credit facilities.
Country updates
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