Endesa purchases 419 MW of fully grown solar projects in Spain

• Spanish energy Endesa SA (BME: ELE) introduced today that it has acquired 419 MW of solar projects in your home from Fotowatio Renewable Venture (FRV), a renewables programmer and part of Abdul Latif Jameel Energy.

Endesa shut the transaction with its renewables device Enel Green Power Espana.

The projects will require a financial investment of over EUR 300 million (USD 346.9 m), consisting of expenses of the procurement as well as building.

The future solar farms will certainly be situated in the Andalusian provinces of Seville, Cadiz as well as Cordoba and in Zamora, a province in the Castile and also Leon region. Now, the projects remain in an innovative stage of the allowing process, Endesa claimed.

According to the utility company, FRV marketed the projects as part of its typical approach to turn non-strategic assets to finance its investment strategy in Spain.

With the current procurement, Endesa has collected over 2 GW of brand-new capability purchased from third parties.