Grupo T-Solar, an independent solar power producer in Spain, has agreed to acquire two operating CSP plants in Spain with a combined installed capacity of 100 MW from multiple sellers for an undisclosed price.
The acquisitions are the 50 MW Moron plant in Seville and the 50 MW Olivenza plant in Badajoz, both of which use parabolic trough technology without salt storage. Since beginning their operations in 2012, the two plants have delivered more than 200 GWh-per-year to the grid, meeting the annual needs of around 160 thousand people.
Grupo T-Solar, a portfolio company of I Squared Capital, now has a global portfolio with 386 MW of operating capacity. Its portfolio generates more than 634 GWh of power each year, saving 155,370 tons in CO2 emissions.
The transaction is subject to customary closing conditions. Grupo T-Solar was advised by Banco Santander and Ernst & Young on the financial and taxation side, by Enzen on the technical side, and by Pérez-Llorca on legal matters.
This is the third deal for Spanish CSP plants in 2018. Earlier this year, CountourGlobal agreed to purchase five plants with a combined 250 MW capacity from Acciona for 1.09 billion euros ($1.34 billion). And TerraForm Power agreed to acquire all of Saeta Yield’s Spanish plants – also with a combined capacity of 250 MW – for $1.2 billion.