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ABO Wind sells 450 MW of renewable projects in Spain

German project developer ABO Wind AG said Aug. 1 that it sold 450 MW of wind and solar projects under development in Spain to two unnamed investors. Terms of the deal were not disclosed.

ABO Wind has already secured grid connection rights for the projects. Once the company obtains planning, assessment, site acquisition and other necessary approvals, the investors will take over and start building the projects.

The wind and solar parks are expected to start operations by 2022. The company's team in Spain is also working on renewable projects with a total capacity of over 1,000 MW.

ABO Wind also announced that it created a subsidiary and opened an office in Budapest, Hungary.

The company energized a 6.2-MW photovoltaic solar power plant in Létavértes, Hungary, which will receive a tariff of 32 Hungarian forints per kWh for 20 years.

The company is also working on 40 MW of solar projects with a guaranteed tariff and other projects at an early development stage that are qualified for future auctions.

As of July 31, US$1 was equivalent to 292.78 Hungarian forints.