Shell scoops 2GW Spanish solar platform

Dec 15, 2022 12:45 PM ET
  • GTC's 10 "medium maturity" projects have actually safeguarded land exclusivity legal rights and demonstrated feasibility
Shell scoops 2GW Spanish solar platform
Image: Shell

Shell has actually acquired Green Tie Capital's (GTC) platform of 10 solar projects across Spain, with possibility for 2GW of generation capacity when developed.

The 2GW of tool maturity projects have safeguarded land exclusivity legal rights, demonstrated feasibility and also remain in either a very early or a sophisticated stage of development.

Óscar Fernández, Shell Spain nation chairman, said: "Shell's Group method is to lead the energy transition on the market in which it runs.

" With this acquisition we seek not just to boost the portfolio of renewable resource generation assets in the short term, yet establish the capability to expand our renewal company in Spain further."

This deal follows the framework agreement signed with GTC previously this year.

The purchase has actually completed, and the involved cash capex is covered by Shell's existing capital variety for Renewables & Energy Solutions.

Twelve GTC team will certainly sign up with Shell Espa┼łan and incorporate in Shell ´ s Renewable Generation service.



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