Arena Power sells 48 MW of Solar Projects to Enel/Endesa

Endesa, through its renewable subsidiary Enel Green Power España (EGPE), has acquired 3 renewable energy generation development projects from developer Arena Power in the province of Córdoba, Spain. The new renewable capacity, which will total 48 MW, will entail an investment of around 38.5 million euros, covering the purchase, development and construction of the projects, and will result in the creation of direct and indirect employment in the province. Voltiq acted as mandated sell side advisor to Arena Power.

The start of construction of these new solar facilities is scheduled for 2023 and it is estimated that up to 200 people specialized in the renewable sector will be employed during the 9-month construction period.

The 3 solar projects, all located in the province of Córdoba, will be developed while maintaining a continuous dialogue with the entities involved in order to generate shared added value both during and after their construction. Endesa’s commitment will lead to the development of renewable energy training courses for the unemployed in Córdoba, opening up a future career in a booming sector.

Endesa, which continues to invest in its own projects and those of third parties, had already acquired 11 renewable energy projects from Arena Power for a total of 519 MW to be developed in the province of Huelva at the beginning of this year. In this transaction, Arena Power was also assisted by Voltiq. These projects are in the processing phase and are expected to start construction in 2022.

About Arena Power

Arena Power is currently developing a 2 GW pipeline in Spain. Arena Power was created in 2019 with the ambition to become an IPP in the Spanish renewable generation and hydrogen production markets. Arena Power was advised by ATA Renewables (Technical), Ramón y Cajal (Legal), CMS (Regulatory), Garrido (Tax) and Voltiq (Financial). Following this acquisition, Arena Power will continue to assist in EGPE’s development process until all projects reach ready-to-build status.

About Endesa

Endesa is the leading electricity company in Spain and the second largest in Portugal. It is also the second largest gas operator in the Spanish market. It develops an integrated business covering everything from generation to commercialization and also offers, through Endesa X, value-added services aimed at decarbonizing energy use in homes, companies, industries and public administrations. Endesa is firmly committed to the United Nations' SDGs and, as such, strongly promotes the development of renewable energies through Enel Green Power España, the electrification of the economy and Corporate Social Responsibility. The Endesa Foundation is also active in this last area. Overall, Endesa's human team totals around 9,600 employees. Endesa is part of Enel, Europe's largest electricity group.