German independent power producer Encavis AG has acquired an 80% interest in the 300-MWp Talayuela solar project in Extremadura, Spain, from Solarcentury, according to Oct. 9 news releases.

London-headquartered Solarcentury will retain a 20% equity interest in the project and will assume commercial and technical management of the facility once its becomes operational. Investment for the project, including debt capital, amounts to approximately €225 million.

Expected to go online in the first half of 2020, the Talayuela solar plant is being built without subsidy. Its output will be initially purchased by an unnamed off-taker at fixed prices for 10 years.

The project was first announced in 2017 and was initially developed by engineering firms Kompa Solaire Sasu and Genia Global Energy Solutions SL. A consortium of banks will finance the project.