Grenergy finalises deal to sell 300 MW solar plants to Allianz

Grenergy has decided to divest 300 MW of solar capacity from two solar facilities in Spain to Allianz Capital Partners on behalf of Allianz insurance firms and other institutional investors for €270.6 million. Reportedly, the acquisition will be completed by the end of June 2025.

The scheduled commercial operation date is planned to be in the second half of 2024. Meanwhile, all energy income will be awarded to Grenergy until the closing date. Furthermore, during the plants’ useful life, Grenergy will manage the asset and perform all necessary servicing and operations. The transfer of these assets is a component of the Valkyria project, which started this year and is moving along nicely with its framework.

In September 2023, Iberdrola announced the completion of the construction of a 74 MW solar photovoltaic farm in Burgos. This solar project will hybridise the existing 69 MW BaCa – Ballestas and Casetona – wind power complex. Furthermore, the company had allocated more than €40 million for this project.