Emeren Group Buys 86 MWp Solar Portfolio In Spain From Negratin Global Services

(RTTNews) - Solar project developer Emeren Group Ltd. (SOL) announced Thursday the purchase of an 86 MWp utility-scale solar project portfolio in Spain from Negratin Global Services.

This various state-of-the art portfolio comprises 13 utility-scale solar projects ranging from 6MW DC to 14 MW DC. They are classified as Ready-to-Build projects and are expected to produce 166.47 million kWh/year of energy.

The portfolio of projects is expected to begin construction late 2024, with the final projects to be built and connected to the grid by early 2025. All 13 projects are located in the center of Spain and will have the capacity to provide enough energy to 51,380 households in the local region, along with the saving of 19,544 vehicle emission every year.

Emeren plans to develop and build Battery Energy Storage Systems (BESS) on the already permitted site for solar projects, as part of the transition to a low-carbon future, resulting in the saving of 35,903.9 tons of CO2 per year.

Emeren Spain has an advanced-stage portfolio of over 300MW in solar and 100 MWh of storage, with a 2024/2025 pipeline of over 4 GWs.

Negratin Global Services selected ATZ Investments, a renewable and infrastructure financial advisory boutique specializing in mergers and acquisitions, to support on the project transaction.