Green Tie Capital’s (GTC) platform of 10 solar projects in Spain, with a potential 2GW of generation capacity once built, has been acquired by Shell.
The 2GW of medium-maturity projects have obtained land exclusivity rights, shown their viability, and are either in the early stages of development or at an advanced stage.
Shell Spain’s country chairman, Óscar Fernández, said “Shell’s Group strategy is to lead the energy transition in the markets in which it operates.”
“With this acquisition we seek not only to increase the portfolio of renewable energy generation assets in the short term, but establish the capability to grow our renewal business in Spain further.”
The framework agreement with GTC that was struck earlier this year is followed by this transaction.
The deal is finished, and Shell’s current capital range for Renewables & Energy Solutions covers the related cash capex.
Twelve GTC employees will work with Shell Espaa and the company’s Renewable Generation division.
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