Alternus swoops on 228MW Spanish PV

• IPP has actually entered into agreement with domestic designer to get 7 projects at ready-to-build stage

Alternus Energy has actually signed agreements to obtain 228MW of Spanish solar projects bringing its Spanish pipeline to 260MW.

The independent power producer is set to grow its presence in the Spanish solar market with the conclusion of conclusive agreements to get 7 solar projects from a well established Spanish programmer.

Alternus has executed a binding acquisition agreement to obtain the projects at ready-to-build (RTB) standing.

Currently the projects go to mid-stage growth and are anticipated to get to RTB standing during the second and third quarters of 2023 subject to permitting and suitable grid connection conditions.

The designer will be responsible for all activities and also expenses to achieve these landmarks prior to closing.

The projects are estimated to achieve commercial operation date (COD) during 2024.

Provided the strong favorable and also foreseeable cashflows from these projects over the long term, Alternus expects to completely money the purchase and also setup prices from debt centers given at project level.

Alternus' EPC subsidiary, Unisun Energy, will certainly mount the projects as well as procedures as well as maintenance (O&M) subsidiary, Uper Energy will certainly supply O&M services.

These projects contribute to the 35MW Totana solar park gotten by Alternus last year bringing the Company's Spanish pipeline to 263MW.

The Totana project is expected to reach RTB in the fourth quarter of 2023.

Alternus chief executive Vincent Browne said: "This acquisition once again demonstrates our successful local collaboration service model that underpins our growth.

" Spain has one of the most mature solar markets in Europe with a high degree of vendor and PPA projects offering a number of courses to market for this portfolio as well as future projects.

" We eagerly anticipate advancing our pipeline of 263MW in Spain to energisation as well as contributing to the enthusiastic Spanish solar targets."