Ellomay Arm Inks EPC Pact with METKA for 300 MW Spanish Talasol Project

This is a very significant milestone in the advancement of the Talasol project, which is expected to be one of the largest photovoltaic projects in Europe and one of the first projects to work on grid parity, that is, without subsidies, says Ran Fridrich.

Israel-headquartered renewable energy company Ellomay Capital’s arm Talasol Solar has entered into an engineering, procurement and construction (EPC) pact with METKA EGN for Talasol project.

The company is promoting the construction of a photovoltaic (PV) plant with a peak capacity of 300 MWDC in the municipality of Talaván, Cáceres, Spain (Talasol Project).

Further, the EPC pact provides a fixed and lump-sum amount of EUR 192.5 million for the complete execution and performance of the works defined in the agreement including EPC of Talasol project and the ancillary facilities for injecting power into the grid.

It also includes a 400 kV step-up substation, the high voltage interconnection line to the point of connection to the grid and performance of 2 years of O&M services.

Furthermore, METKA is expected to complete the work within a time frame of sixteen months.

Moreover, it is also expected that the project will become operational during the first half of 2020, subject to regulatory approvals and procurement of project financing by the company.

Commenting on the development, Ellomay, CEO and Board Member, Ran Fridrich said, “This is a very significant milestone in the advancement of the Talasol project, which is expected to be one of the largest photovoltaic projects in Europe and one of the first projects to work on grid parity, that is, without subsidies. We strongly believe in the success of this project, due to, among other reasons, its location, the expected features of the Spanish solar electricity market, the relatively high radiation in the Iberian Peninsula and the relatively convenient financing cost.”