Grupo T-Solar, an independent solar power producer in Spain and a portfolio company of I Squared Capital, has signed an agreement to acquire two operating concentrated solar facilities in Spain with a combined installed capacity of 100 megawatts from multiple sellers.
Grupo T-Solar, a leading independent solar power producer in Spain and a portfolio company of I Squared Capital, has signed an agreement to acquire two operating concentrated solar facilities in Spain with a combined installed capacity of 100 megawatts from multiple sellers.
The portfolio uses parabolic trough thermosolar technology (without salt storage) and includes the 50-megawatt Project Moron in Seville and the 50-megawatt Project Olivenza in Badajoz. Since beginning operations in 2012, the two plants have delivered more than 200-gigawatt-hour per year to the grid, or enough power for annual needs of approximately 160,320 people.
“This is an important acquisition for Grupo T-Solar as it incorporates a different solar technology into our portfolio while taking advantage of synergies with the current platform and further strengthens our leading position in the Spanish solar sector,” said Marta Martínez Queimadelos, chief executive officer of Grupo T-Solar. Global portfolio of Grupo T-Solar has 386 megawatts of operating capacity that generates more than 634 gigawatt-hour of clean electricity per year and avoids the emissions of 155,370 tons of carbon dioxcide into the atmosphere.
The transaction is subject to customary closing conditions.
