Endesa to acquire 519-MW solar project portfolio in Spain from Arena Power

Endesa SA, through its Enel Green Power España SLU subsidiary, agreed to acquire a portfolio of 11 planned solar projects in Spain totaling 519 MW from local developer Arena Power.

The projects represent an investment of €350 million and are being developed in the Spanish province of Huelva, with construction expected to begin in 2022 and operations in 2024, according to a March 8 news release from the Enel SpA subsidiary. The total investment includes the acquisition price of the projects and their construction and startup.

The 11 projects are being built in six sites in Huelva, namely Palma del Condado, Gibraleón, Trigueros, San Juan del Puerto, Beas and Niebla, and will be connected by a single transmission line to the Palos substation located in Huelva Industrial Park. The park hosts 18 companies and 19 large industrial facilities.

Endesa also said that the renewable power will eventually feed into its green hydrogen production project that the company presented to Spain's Ministry of Ecological Transition and Demographic Challenge.

The agreement is also Arena Power's first transaction, Endesa said. Following the transaction, Arena Power will continue Enel Green Power España's development process until all the projects achieve the status of ready for construction.

Arena Power received technical advice from ATA Renewables, legal advice from Ramón & Cajal, regulatory advice from CMS, tax advice from Garrido and financial advice from Voltiq.

At the close of 2020, Enel Green Power España had total installed renewable capacity of 7,800 MW and a project portfolio of 41,800 MW in Spain. The installed capacity includes 4,745 MW of hydropower, 2,422 MW of wind, 609 MW of solar and 3 MW of other renewable sources.