ABO Energy recently connected the Valdezorita solar park, which has a nominal output of 50 megawatts, to the grid in Castile-La Mancha, central Spain. The solar park will produce around 100 million kilowatt-hours of electricity annually.
Managing Director Dr. Karsten Schlageter highlighted that ABO Energy had achieved significant successes in Spain in recent years, having developed and sold projects with a total capacity of 1.4 gigawatts. He mentioned that Valdezorita, as the company’s first turnkey project in Spain, is a key milestone in their track record. Schlageter also noted that, alongside Margariti—another 50-megawatt solar park built in Greece in 2023—Valdezorita is the largest solar park constructed by ABO Energy to date.
Dr. Schlageter highlighted the opportunities and challenges of turnkey construction projects, noting that while the construction phase ties up significant liquidity and carries risk, the expected margin is higher than selling project rights. He expressed satisfaction with the successful commissioning and sale of the Valdezorita solar park, thanking the company’s employees for their expertise and dedication to the project’s success.
Dr. Schlageter praised the contributions of various teams, including planners, engineers, and commercial staff. He also noted that a major US internet company secured the solar park’s electricity through a power purchase agreement (PPA), ensuring climate-friendly and cost-effective energy for its data center.
The solar park was purchased by a fund managed by EB – Sustainable Investment Management GmbH (EB-SIM). A subsidiary of Evangelische Bank (EB), EB-SIM is a prominent asset manager specializing in ethical and sustainable investments, with extensive experience in renewable energy. ABO Energy will oversee the efficient operation of the solar park on behalf of the owner.
Dr. Schlageter noted that ABO Energy has been active in Spain since 2001, with its Spanish subsidiary making significant contributions to the group’s success, particularly in the past six years through numerous project rights sales. Spain, the second-largest renewable energy market in Europe after Germany, still holds great potential, though falling solar electricity prices pose challenges for new solar PPAs. As part of its revised strategy, ABO Energy is now focusing on wind energy and battery storage, while currently developing a 700-megawatt project pipeline in Spain.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
