Three solar power plants with a combined capacity of 115MWp were sold by BayWa’s renewables division to the L&G NTR Clean Power Fund, which is run by Legal & General Investment Management (LGIM) and NTR.
Castilla la Mancha will be the location of two of the PV projects. The third project comprises of two installations that are situated in the Andalusia region close to Granada.
Dr Benedikt Ortmann, BayWa r.e. global director of solar projects, said “We are pleased to complete the sale of this high-quality project portfolio to the L&G NTR Clean Power Fund.”
“Such an investment in clean energy infrastructure accelerates the development of new renewable installations and thus plays an important role in achieving vital climate goals.”
“In Spain, we have been operating for more than 10 years, and during that time have been steadily increasing our project pipeline.”
“Our solar projects in the country have been built without any subsidies for several years now.”
“We are looking forward to continuing to build upon this success story in the future.”
Each project has a long-term PPA in place with Nestlé, Huhtamaki, a global provider of sustainable packaging solutions, and Holaluz, a Spanish provider of renewable energy.
In Spain, BayWa r.e. has already put in 500 MW of wind and solar capacity, signed PPAs for 790 MW, and completed over 2 GW of projects, including one of the biggest PV portfolios in the Spanish market.
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