BayWa r.e., a renewable energy project developer, announced the sale of a 60 MWp solar project portfolio in Spain to KGAL Investment Management, an asset manager.
The portfolio includes the 50 MWp Gerena II and 10 MWp Chamorro ground-mounted solar projects, both located in the municipality of Guillena, Seville.
Both projects have reached commercial operation in the second quarter of 2025 and are expected to generate approximately 125 GWh of clean electricity annually. The projects are equipped with single-axis trackers and are backed by a 10-year virtual power purchase agreement.
Financial details of the transaction are undisclosed by the company.
This transaction follows the sale of two wind projects earlier this year to KGAL, including the 11.4 MW Prüm and 12.4 MW Altenglan wind projects.
Juanjo Álvarez, Managing Director of BayWa r.e. Spain, commented, “We are proud to see these projects fully operational and to deliver high-quality assets to KGAL. Despite challenging market conditions in Spain, we have successfully launched the simultaneous construction of nine renewable energy projects – wind and solar – totaling 460 MW, a milestone achievement that reflects the strength and commitment of our team.”
Earlier this year, BayWa r.e. had already sold a portfolio of solar projects totaling 127 MWp in France . The 40 MWp Greenberry and 40 MWp Fontenet 3 solar projects, both commissioned, were acquired by Octopus Energy’s generation arm, while the under-construction 47 MWp Amance solar project was sold to Commerz Real.
In addition, the company announced the sale of three solar projects totaling 517 MWdc to a privately held independent renewable power producer in November of last year. The projects, located in the PJM Interconnection and the Midcontinent Independent System Operator regions, are expected to reach commercial operation by the end of 2025.
According to Mercom’s recently released 1H and Q2 2025 Solar Funding and M&A report, approximately 19.9 GW of solar projects were acquired in the first half of 2025, compared to 18.5 GW in the first half of 2024.
