Amarenco Group has signed the acquisition of a 49.94MWp Solar PV plant from Hanwha Energy. This is the first expansion by the Irish based Solar IPP into the Spanish market. ‘Las Naranjillas’ project is located in Carmona, Seville with an area of 137 hectares covered by 121,800 photovoltaic modules. The plant will produce enough energy to meet the electricity demand of 13,997 homes. In addition, 51,977 tonnes of CO2 will be removed from the atmosphere, which is equivalent to the consumption of 10,192 vehicles. Spain and Portugal have some of the best irradiation levels in Europe and the projects can operate without State subsidy. Notably, 180 jobs were created during construction of the photovoltaic plant.
Alain Desvigne, of Amarenco Group said, “Las Naranjillas sets up the first milestone on our relationship with Hanwha Energy and we look forward to repeating deals such as this with Hanwha Energy in the future. Iberia is now a key market focus for Amarenco going forward and we expect this market to be a significant part of the balance sheet going forward.”
Ik Pyo Kim, of Hanwha Energy said, “Starting with the current project pipeline of over 1GW in Spain, we will actively proceed more than 6 GW of solar projects in total in the European market including Spain to build further meaningful achievements in the solar PV area and also across diverse renewable energy areas as a part of 10-year strategic plan.”
Amarenco Group is a leading Solar IPP operating in Europe, overseas departments and territories, Middle East and Asia. The group develops, finances, builds and operates commercial and utility-scale solar PV projects. It has successfully delivered over 2,000 solar photovoltaic infrastructure projects working in close collaboration with farmers, local authorities real estate owners and businesses for more than a decade.