IKAV buys EiDF Solar to fund 30 projects

• Parks with 48MW capacity will be the first for the Spanish PV developer

EiDF Solar has reached an agreement with the IKAV mutual fund, through its IEI II Global Infrastructure Investments vehicle, to finance 30 photovoltaic generation parks for a complete capacity of 48MW.

These are the first parks to be released by Spanish solar developer EiDF.

Under the agreement, IKAV will contribute a total of EUR13m as an investment companion of EiDF Generación.

EiDF strengthened its Generation unit last year to increase its vertical assimilation strategies based upon the complementing of 3 tasks: self-consumption, generation and also marketing.

The power generated in the parks constructed and operated by EiDF will be utilized for its commercialisation area, reinforced after the purchase of ODF Energía.

The business's portfolio of generation projects goes beyond 1000MW.

Nonetheless, it continues to analyse financial investment possibilities that enable it to broaden its pipeline with other projects at an advanced stage of growth, EiDF stated.