AERIF shuts procurement of 30-MWp solar farm in Spain

• UK-based capitalist Aquila European Renewables Income Fund plc (LON: AERS) stated on Wednesday it had finished up the procurement of the 30-MWp Tiza solar PV farm in southern Spain that was first introduced in mid-May this year.

The London-listed company, additionally called AERIF, acquired 100% interest in the plant through its wholly-owned subsidiary Tesseract Holdings Limited. Financial details and also the name of the marketing celebration continue to be undisclosed.

One of the closing conditions was the finalizing of a power purchase contract (PPA) for Tiza's production result. In the current news, AERIF stated the signing took place recently, with energy firm Axpo Iberia as the off-taker. The fixed-price PPA with Axpo will run for six as well as a half years and cover 70% of P50 manufacturing, AERIF said.

The Tiza solar farm lies in Almeria district in Andalusia. Its annual production outcome is estimated at around 54 GWh annually.