Reden, Vinefield enters deal to purchase a 400 MW Spanish solar portfolio

French solar power producer Reden and Spanish investment manager Vinefiled Capital have entered into an agreement with renewable energy developer Viridi RE GmbH and Solar Ambition Europe GmbH, the project holding company of Green Enesys Group, to acquire a solar portfolio in Spain with a generating capacity of over 400 MW. 

The deal comprises the purchase of the project companies and the development of the projects by Viridi RE and Solar Ambition until they reach “Ready to Build” status. The construction of the full portfolio will require a total investment of over EUR300 million (US$342.4 million). Once connected, the assets are expected to generate enough energy to fully power over 250,000 Spanish households, reducing their carbon footprint by over 330,000 metric tons of CO2 emissions per year.

Watson Farley & Williams (WFW) has advised Reden and Vinefield Capital in the transaction.