ABO Wind Sells 450 MW Wind and Solar Assets in Spain

ABO Wind has announced that it has agreed to the sale of its wind energy and solar energy assets worth 450 MW under development in Spain to 2 unnamed firms

Germany-based renewable project developer ABO Wind has announced that it has signed an agreement for the sale of its wind energy and solar energy assets under development in Spain to two unnamed firms.

The two firms have acquired Spanish projects in wind and solar energy with a total capacity of 450 MW, for which ABO Wind has already secured the grid connection rights. The project developer also takes care of planning, assessments, site acquisition and all approvals. Once the planning and approval stage of the project is completed the investors will take over the projects and build the plants. The two renewable energy projects are expected to be in operation by 2022.

In recent years, ABO Wind had already developed around 200 MW of wind energy ready for construction and then sold them. “The most recent transactions demonstrate the excellent performance of our Spanish team, which is working on further wind and solar projects with a capacity of more than 1,000 megawatts,” said Managing Director Dr. Karsten Schlageter.

The company has also announced that it has acquired the rights for its new solar farm to be connected to the grid in Létavértes in Eastern Hungary. The firm had acquired the rights for the new solar farm with an installed capacity of 6.2 MW in the previous year and developed the project until it was ready for construction in 2019. In accordance with the KÁT system, which has since been discontinued, the solar farm will receive a tariff of 32 Hungarian forints (Rs 7.54) per kilowatt-hour (equivalent to ten euro cents) over a period of 20 years from commissioning.

“Following this efficient and successful construction of our first project, we are well prepared to make further contributions to the expansion of renewable energies in Hungary,” said Dr. Patrik Fischer, General Manager.

The firm is currently working from its recently opened office in Budapest on another 40 MW of solar capacity with a guaranteed KÁT tariff, as well as on projects at an earlier stage that is eligible for participation in future auctions.