R Power obtains 59MW Portuguese PV portfolio

• Investment in projects in Santarem, Portalegre as well as Castelo Branco valued at EUR35.4 m.

Polish firm R Power has bought a portfolio of solar projects in Portugal totalling 59MW.

The investment deserve PLN160m (EUR35.4 m), R Power stated.

It included that the complete ability of the plants that the business will own in the country will reach nearly 70MW.

The plants lie in different parts of the nation, consisting of Santarem, Portalegre and Castelo Branco.

They will produce around 100 gigawatt-hours of power a year, enough to satisfy the demands of almost 30,000 houses.

All the investments are anticipated to reach the construction-ready standing in 2021, with construction to begin in 2022.

The power they produce will certainly be marketed under long-term power acquisition agreements without using a support group.

R Power co-founder and also president Przemek Pieta stated: "Portugal, with among the highest degree of sunshine in Europe, is a natural location for us.

" It is a market that permits the building and construction of plants with no aids, which is why we are planning intensive development there.

" We are presently trying to find new investments as well as are hiring for numerous essential positions.

" Our current method is based not only on obtaining and developing PV investments, but likewise on building our own portfolio of solar ranches as an independent power manufacturer.".