Commerz Real grows solar, wind portfolio in Spain
Transactions - SEPTEMBER 5, 2023

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Commerz Real grows solar, wind portfolio in Spain

by Kali Persall

Commerz Real is expanding its renewable-energy portfolio in Spain.

The firm’s Klimavest impact fund has acquired the operational Cartuja solar power plant with 50 megawatts and a 30-megawatt wind power project under development. The two assets are to be hybridized, with the solar park feeding electricity through a common grid connection during the day and the wind turbines at night and in the less sunny seasons of the year. The grid connection of the solar park was made in 2021, and the neighboring onshore wind farm is scheduled to be connected to the grid in 2027.

The assets are located in the southern Spanish municipality of Jerez de la Frontera in the Cadiz region on the Atlantic Ocean — one of the best locations for renewable-energy production in Europe due to the sun radiation and wind. The two parks are expected to jointly meet the calculated electricity requirements of around 35,000 average Spanish households in the future.

“We have known and apprec

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