Hive unloads 252MW Sabinar in Spain

Mar 26, 2021 11:01 AM ET
  • Legal rights to solar farm have actually been acquired by Israel's Noy Fund as well as environment-friendly tech team Nofar Energy
Hive unloads 252MW Sabinar in Spain
Image: Antonio Garcia/Unsplash

Hive Energy has offered its 252MW Sabinar solar farm in Spain to Israel's Noy Fund and also eco-friendly tech team Nofar Energy for a concealed rate.

The deal covers the rights to both phases of Sabinar, for which Hive remains in the procedure of receiving all the appropriate planning and also environmental permits.

Building and construction in Cuenca is expected to begin in the summertime, and once complete the project will cover a location of 452 hectares.

The project will certainly be constructed in 2 stages, with Sabinar 1 and 2 providing roughly 169MW and 83MW of renewable electricity, respectively.

The acquisition was made through Noy Fund's and Nofar Energy's joint endeavor Andromeda Solutions, and consists of the costs of building.

Hive general supervisor Spain Luis Martinez Hermida stated: "At Hive, we remain to seek chances in clean energy that will certainly fight environment adjustment.

" Finishing the sale of Sabinar to Noy is a key landmark for Hive in Spain.

" We continue to expand ambitiously across our tasks in the market, including the intended distribution of 1.5 GW of large-scale solar projects and also 1400MW of eco-friendly hydrogen projects.

" Our goal remains the same: producing transformational change for a cleaner future by providing world class renewable energy projects."