Grupo T-Solar, a 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 MW from multiple sellers.
Courtesy of Grupo T-Solar
The portfolio uses parabolic trough thermosolar technology (without salt storage) and includesthe 50-MW Project Moron in Seville and the 50-MW Project Olivenza in Badajoz. Since beginning operations in 2012, the two plants have delivered more than 200 GWh 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-Solaras itincorporates a different solar technology into our portfolio whiletaking advantage of synergies with the current platform and furtherstrengthens our leading position in the Spanish solar sector.”
The global portfolio of Grupo T-Solar has 386 MW of operating capacity that generates over 634 GWh of clean electricity per year.
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