Endesa obtains 48 MW of Spanish solar projects from Arena Power

• Spanish electric utility Endesa SA (BME: ELE) has actually obtained a 48-MWp portfolio of solar projects in the house from Arena Power, a compatriot developer and also an arising independent power producer (IPP).

The company bought three photovoltaic or pv (PV) projects located in Cordoba province through its renewables arm Enel Green Power Espana. Endesa will spend EUR 38.5 million (USD 45.3 m), a rate that consists of the costs of purchase and also construction of the projects, the utility said.

Building of the plants is slated to commence in 2023 for an estimated nine-month duration.

This is the 2nd purchase contract between both firms in 2021. Earlier this year, Endesa acquired 519 MW of renewable resource projects from Arena Power. When up and running, they will feed Endesa's eco-friendly hydrogen projects.

With the current purchase, Endesa has actually accumulated close to 1,700 MW of brand-new ability acquired from 3rd parties.

Arena Power obtained lawful suggestions from Ramon y Cajal. Voltiq was in charge of monetary advisory solutions, while ATA Renewables worked as technological consultant.