Pan-European equity fund Marguerite has acquired an 80% stake in two solar photovoltaic projects totalling 100 MWp in Spain from OPDEnergy, the Spanish renewable energy company announced on Wednesday.
Financial details of the transaction have not been disclosed.
The two projects, located in the regions of Extremadura and Andalusia, are part of a portfolio awarded to OPDEnergy in the last renewable energy auction in Spain. However, OPDEnergy has signed a long-term power purchase agreement with UK energy company Centrica plc for the output of the plants, which is expected to reach 200 GWh per year.
Following the sale, OPDEnergy remains in charge of the engineering, procurement and construction, and will also provide operations and maintenance services as well as manage the technical and commercial activities of the plants after the commissioning.
The construction phase is expected to be finalised by the end of 2019, when the commissioning is planned to take place. Once in operation, the plants will produce enough electricity to meet the demand of 52,000 households.
Marguerite and OPDEnergy plan to expand the solar portfolio by an additional 100 MWp later this year, the press release said.