Grupo T-Solar, a leading independent solar power producer in Spain and a portfolio company of I Squared Capital, has signed an agreement to acquire two operating concentrated solar facilities in Spain with a combined installed capacity of 100 megawatts from multiple sellers.
The portfolio uses parabolic trough thermosolar technology (without salt storage) and includes the 50-megawatt Project Moron in Seville and the 50-megawatt Project Olivenza in Badajoz. Since beginning operations in 2012, the two plants have delivered more than 200 gigawatt-hour per year to the grid, or enough power for annual needs of approximately 160,320 people.
Marta Martínez Queimadelos, Chief Executive Officer of Grupo T-Solar, said: “This is an important acquisition for Grupo T-Solar as it incorporates a different solar technology into our portfolio while taking advantage of synergies with the current platform and further strengthens our leading position in the Spanish solar sector.” Global portfolio of Grupo T-Solar has 386 megawatts of operating capacity that generates over 634 gigawatt-hour of clean electricity per year and avoids the emissions of 155,370 tons of CO2 into the atmosphere.
The transaction is subject to customary closing conditions. Grupo T-Solar was advised by Banco Santander (financial), Ernst & Young (financial and tax), Enzen (technical) and Pérez-Llorca (legal) in this transaction.