Grenergy Sells 150-MW Solar Plant in Spain

• Grenergy Renovables SL, a Spanish renewables developer-operator, has agreed to sell its 150 MWp Belinchon solar power facility in Cuenca to a European IPP. The transaction is expected to close by the end of the year, with a net profit of EUR 83 million. This is the first milestone of the Valkyria initiative, with 1.1 GW of solar assets to dispose of in Spain and a pipeline of 14 GW, including 1.8 GW of assets and 10 GWh of energy storage projects.

Grenergy Renovables SL, a Spanish renewables developer-operator, has agreed to sell its 150-MWp Belinchon solar power facility in Cuenca to an unnamed independent power producer (IPP) in Europe. The transaction is expected to close by the end of the year, with net proceeds of EUR 83 million (USD 88.6m). This sale represents the first milestone of the Valkyria initiative to dispose of up to 1.1 GW of solar assets in Spain. Additionally, Grenergy has an expanded pipeline of about 14 GW, including 1.8 GW of assets in operation or under construction and 10 GWh of energy storage projects.

What is Grenergy's Spain Solar Plant?

• Grenergy’s Spain Solar Plant is a 150-MWp Belinchon solar power facility located in Cuenca, Spain
• It will be completed in the second quarter of 2023
• The sale of the plant to an unnamed independent power producer (IPP) in Europe will net proceeds of EUR 83 million (USD 88.6m) in equity value
• The Valkyria initiative is looking to dispose of up to 1.1 GW of solar assets in Spain
• Grenergy's expanded pipeline is about 14 GW, including 1.8 GW of assets in operation or under construction and 10 GWh of energy storage projects