Nordic Solar purchases 48.5-MWp solar park in Portugal from Chint

• Danish energy business Nordic Solar stated today it has closed the purchase of a 48.5-MWp solar project in Portugal from Chinese developer Chint Solar, without giving economic information.

Following the deal, the construction of the Insua photovoltaic (PV) park has actually started at the site in Alentejo region. When up and running, it will come to be the biggest one in Nordic Solar's portfolio that presently consists of 230 MWp of solar farms in operation across Europe.

Insua is a fully-merchant project. Nevertheless, its brand-new owner stated that it intends to sign a power purchase agreement (PPA) for the power outcome, which is anticipated to be adequate to cover the consumption of around 25,000 houses.

Nordic Solar and also Chint Solar will certainly companion during the construction process.

In addition to advancement projects in Spain, Italy, and Greece, Nordic Solar has a 500-MW-plus pipeline of shovel-ready projects as well as co-development systems, the company noted. "With a diversified and risk-resistant portfolio throughout many European markets, we aim to be the preferred solar energy company for Nordic financiers," commented Chief Executive Officer Nikolaj Holtet Hoff.