The sale marks the first transaction of a Solarcentury-developed project for Statkraft
Norway-based Statkraft has agreed to sell its portfolio of four co-located solar parks in Cadiz, Southern Spain, to The Renewables Infrastructure Group (TRIG) for an undisclosed sum.
TRIG is managed by international investment manager InfraRed Capital Partners and Renewable Energy Systems (RES).
Statkraft will be responsible for the construction of the projects, which are expected to be completed by the fourth quarter of 2022.
It will start building the solar parks, which are designed to have a total capacity of 234MWp, in this month.
Statkraft European wind and solar executive vice president Birgitte Ringstad Vartdal said: “The partnership with TRIG on these four Cadiz solar parks is a step forward for Statkraft in reaching its wind and solar development goals.
“Statkraft is delighted to partner with TRIG, whose focus is on investing in renewables infrastructure.
“The plants at Cadiz have been developed with the community and the environment at the forefront of our focus, and we are pleased that its managers, InfraRed and RES, will now continue the management of these assets.”
The sale marks the first transaction of a Solarcentury-developed project for Statkraft since its acquisition in November last year.
Statkraft said that its aims to develop a global portfolio of 2.5 to 3GW of wind and solar projects per annum, through 2025.
Also, it is on track to develop 8GW of wind and solar power by 2025.
Statkraft continental Europe wind and solar SVP Stefan-Jörg Göbel said: “We need to inject significant pace into our climate action.
“In just over a year from now, the system at Cadiz will start to generate clean, green energy with completion of the project just a few months later.”
InfraRed infrastructure director Richard Crawford said: “We are pleased to have entered into this strategic partnership with Statkraft; who, having developed these four solar projects in Spain, will stay on to deliver the projects through the construction phase.”