Aquila Capital in Deal for Solar Project Portfolio in Spain

With an eye of a 500MW solar photovoltaic (PV) portfolio in Spain, Aquila Capital has signed an agreement with Viridi RE and Solar Ambition. Aquila is a German investment and asset development company and Solar Ambition is a subsidiary of Green Enesys Group.

The deal has it that Viridi RE and Solar Ambition will work on the solar portfolio until the assets achieve ready-to-build status. The portfolio is currently in development.

Aquila Clean Energy Europe, Middle East and Africa (EMEA) Investment Management head Andrew Wojtek said, “The agreement with Viridi RE and Solar Ambition for the 500MW solar PV projects marks another step in our commitment to generate clean energy and contribute to reaching a net-zero carbon economy.”

Wojtek also added that the agreement highlights the importance of the Spanish renewable market for their growth strategy in southern Europe.

Chief Sales and Development Officer, Viridi Group, Carlos Izquierdo has informed, “This achievement and cooperation are very important as we will produce clean and renewable energy and contribute to the energy transition. We aim also to contribute, by means of this investment, to the economic growth and social development of the local communities where the projects are located.”

The portfolio, once developed completely, will also have the potential to offset more than 390,000 tonnes of carbon emission every year. As far as the agreement is concerned, both the entities have not yet disclosed the financial details of the deal.

The companies will receive clean energy from the 68.4MW Mastokangas wind project and the Korkeakangas wind farm, which has 43.2MW of total capacity. In August last year, Statkraft and Aquila Capital signed power purchase agreements for wind assets in Finland.