Renewable energy company Jinko Power, Ardian Infrastructure and White Summit Capital have partnered for the development of 182.5MW La Isla solar plant in Spain.
As part of this agreement, the three companies Jinko Power, Ardian Infrastructure and White Summit Capital, will construct and operate the solar farm, which will be located near Seville in the country.
The project was previously wholly owned and developed by Jinko Power, a subsidiary of Chinese photovoltaics manufacturer Jinko Solar. The solar plant is presently in development and is expected to enter into construction phase in the second half of this year.
Ardian Infrastructure managing director Juan Angoitia Grijalba said: “This investment demonstrates Ardian’s continuing commitment to the development of our renewable energy portfolio. With this acquisition, we are cementing our presence in Spain, a country with high potential in the renewables space.
“This builds on our sector expertise, with Ardian Infrastructure now managing circa 2GW of renewable energy, through technologies including wind, solar, hydro and biomass.”
Once operational, the solar plant will generate enough clean electricity to be supplied to 100,000 Spanish households. It will be one of the first grid-parity/zero-subsidy projects in Europe and is touted to be one of the largest solar PV plants in the country.
Being built with a total investment of €125m, the solar plant could generate nearly 350 direct jobs in the region during the construction phase.
White Summit Capital principal Amaia del Villar said: “We are delighted to have successfully completed this landmark transaction for White Summit Capital. Together with our partners, we are proud to be spearheading the new renewable energy paradigm.”
Few days ago, Skyline Renewables, a partnership company between Transatlantic Power Holdings (TPH) and Ardian, acquired 117MW wind portfolio from NJR Clean Energy Ventures (CEV), a subsidiary of New Jersey Resources.
The wind farms are located in Iowa, Kansas, Pennsylvania and Wyoming, offering clean electricity to major population centers across the country. With this acquisition, the portfolio of Skyline Renewables will grow to 803MW of controlled capacity.