Sunday, March 3, 2024

Emeren Group acquires 86 MWp solar power portfolio in Spain

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Emeren Group, a solar power project developer, has completed the acquisition of an 86 MWp solar power project portfolio from Spain’s Negratin Global Services.

The portfolio consists of 13 solar power projects ranging from 6MW DC to 14MW DC and classified as Ready-to-Build (“RTB”) projects. Upon completion, these projects will generate an estimated 166,471,371 kWh/year of energy.

Construction is scheduled to begin at the end of 2024, and the project is expected to be connected to the grid by early 2025, and is strategically located in central Spain. These solar energy projects are projected to power approximately 51,380 homes in the region and significantly reduce regional vehicle emissions by 19,544 vehicles per year.

Additionally, Emeren plans to install battery energy storage systems (BESS) on the existing site of its solar power project, underscoring its commitment to a low-carbon future. This is expected to reduce CO2 emissions by 35,903.9 tons per year. In particular, Emelen Spain boasts an advanced stage portfolio of over 300 MW of solar PV capacity and over 100 MWh of storage, with a robust pipeline of over 4 GW in 2024/2025.

Enthusiastic about the acquisition, Yuming Liu, CEO of Emelen Group, said: “This portfolio is fully aligned with Emelen’s strategic vision to advance renewable energy in Spain and around the world.” expressed.

“This acquisition resonates with Negratin’s commitment to renewable energy and promotes sustainable practices,” said Enrique Díaz Hinojosa, CEO of Negratin Global Services.

Negratin Global Services has partnered with ATZ Investments, a financial advisory boutique specializing in renewable energy and infrastructure with a focus on mergers and acquisitions.

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