Emeren Group, a solar project developer, has completed the acquisition of an 86 MWp solar project portfolio in Spain from Negratin Global Services.
The portfolio comprises 13 solar power projects ranging from 6MW DC to 14 MW DC, categorized as Ready-to-Build (“RTB”) projects. These ventures are poised to generate an estimated 166,471,371 kWh/year of energy upon completion.
With construction set to commence in late 2024 and the projects anticipated to connect to the grid by early 2025, they are strategically located in central Spain. These solar energy projects are projected to power approximately 51,380 households in the region, significantly reducing local vehicle emissions by 19,544 annually.
Moreover, Emeren is set to implement Battery Energy Storage Systems (BESS) on the existing sites for solar projects, underscoring its commitment to a low-carbon future. This move is expected to curtail CO2 emissions by 35,903.9 tons per year. Notably, Emeren Spain boasts an advanced-stage portfolio of over 300MW in solar capacity and 100 MWh of storage, with a robust 2024/2025 pipeline surpassing 4 GWs.
Yumin Liu, CEO of Emeren Group, expressed enthusiasm about the acquisition, stating, “The portfolio perfectly aligns with Emeren’s strategic vision for propelling renewable energy in Spain and worldwide.”
Enrique Diaz Hinojosa, CEO of Negratin Global Services, said: “This acquisition resonates with Negratin’s dedication to renewable energy and fosters sustainable practices.”
Negratin Global Services engaged ATZ Investments, a specialized renewable and infrastructure financial advisory boutique focusing on mergers and acquisitions.