Aquila Capital has acquired four ‘ready-to-build’ solar projects totalling 170MW in Portugal on behalf of its investors from an unnamed developer.
The projects, the names of which have also not been revealed, are located in central and southern Portugal and are scheduled for completion by the end of 2018.
Aquila said “very good conditions at the project sites and the low cost of photovoltaic power systems were key attractions” for the deal.
It has agreed a power purchase agreement for electricity from the projects with an unnamed “local third party”.
Aquila Capital head of investment management energy an infrastructure EMEA Susanne Wermter said: “Even without state funding support, these projects are a highly attractive investment.
“With the help of a long-term power purchase agreement, we have been able to secure stable attractive income for our investors.”