DWS, a German asset management company, has finalized an agreement to acquire a 147 MW solar project portfolio in Spain. The projects are acquired from X-ELIO, a global renewable energy developer.
The three projects, located in the municipality of Medina de las Torres, Badajoz, started operations in mid-2023, and have a total capacity of 147 MW. The three plants will generate an average estimated supply of renewable energy to the equivalent of 91,800 households per year.
“We are very pleased with three further investments for our European infrastructure strategy for German investors. Investments both from institutional and from retail clients are needed to drive change and enable European transformation projects, particularly in the energy sector,” said Peter Brodehser, Partner Investments Infrastructure at DWS.
These acquisitions follow DWS’s recent investment in Energiepark Lausitz, an open-space solar plant in Germany.
X-ELIO, a Brookfield-owned company, has a portfolio of 14 GW of pipeline remaining in different stages of advancement and diversified among various regions in the Spanish market.
” We take pride in developing high-quality sustainable assets and the acknowledgment of international first-in-class partners such as DWS. We are witnessing the enormous potential of Spain to lead the renewable transition in the EU, this being one of our key strategic markets. “said Nicholas Pentreath, Chief Financial Officer of X-ELIO.
According to Mercom’s Annual and Q4 2023 Solar Funding and M&A report, 231 large-scale solar project acquisitions in 2023 compared to 268 acquisitions in 2022. In 2023, almost 45.4 GW of solar projects were acquired 2023, compared to 66 GW in 2022, a 31% decline YoY.
In a recent deal, Recurrent Energy, a global developer, owner, and operator of solar and energy storage and a subsidiary of Canadian Solar, announced the acquisition of a solar PV portfolio with more than 420 MW capacity in South Spain. The portfolio, located in Carmona, consists of a cluster of four projects, Rey I, II, III, and IV, which are currently under construction and will feature Canadian Solar’s TopBiHiKu7 N-type bifacial TOPCon technology modules.
