Mytilineos and Aquila Capital agreement for 100mw solar energy projects in Spain

Mytilineos, through its Renewable Energy & Storage Development (RSD) Division, and Aquila Capital, a sustainable investment and asset management investment firm, have signed an agreement to sell a 100 MW photovoltaic portfolio in southern Spain.

In this context, Aquila Capital acquires two photovoltaic projects, with a horizon of operation by the end of the third quarter of 2022. These are the Jaen and Guillena projects in Andalusia, with a capacity of 50 MW each, which are under construction by the RSD Sector of MYTILINEOS.

Once operational, these projects will produce approximately 200 GWh of 100% “green” energy per year. Nikos Papapetrou, General Manager of MYTILINEOS RSD Sector, said: “We are very pleased with this transaction in Spain. This is another important milestone in our development strategy in Europe, following our recent agreement in Romania. Spain is one of the most important markets for photovoltaic projects in Europe, with significant capacity building targets and we are proud to contribute in this direction, and we are also very pleased to conclude this agreement with Aquila Capital and are considering further promotion. cooperation between the two companies “.

Andrew Wojtek, Head of Investment Management at Aquila Clean Energy EMEA, explains: “We are very pleased with this transaction and its strategic importance. On the one hand, these highly mature photovoltaic parks are a significant addition to our local portfolio, with The start-up and return on investment to take place even this year.On the other hand, this partnership with a strong international company such as MYTILINEOS offers great potential for the future, and the two companies are aligned to contribute further expansion of energy production from renewable sources “.

As part of this partnership, MYTILINEOS, through the RSD Sector, implements a project development and investment platform for photovoltaic projects and energy storage projects and has in operation approximately 118 MW of photovoltaic projects in Australia and 3.5 MW in Cyprus, which have started to contribute to the financial results of the Company, already from the second half of 2021.

These projects are part of a comprehensive portfolio of photovoltaic and energy storage projects in various stages of development exceeding 4GW located in the Iberian Peninsula, Italy, the United Kingdom, Cyprus, Romania, Chile, Australia and South Korea. . For these projects, the Company will evaluate the options of revenue generation or integration into its activities. Today, Aquila Capital manages and develops wind, photovoltaic and hydroelectric projects with a total capacity of over 13 GW, of which more than 8 GW are located in Southern Europe. Spain is an important market for Aquila Capital, where the company has more than 60 projects under development, construction or operation.

Source: Capital

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