An undisclosed buyer has acquired a PV portfolio in different development phases from Spanish developer Arena. Projects are located in Andalucía, Extremadura and Aragón, Spain. The new renewable capacity, totaling 268 MW, will result in the creation of substantial direct and indirect employment in the regions.
Construction of the first projects is scheduled in 2023, while it is anticipated that the entire portfolio will be fully operational by 2025. During construction, it is estimated more than 350 people specialized in the renewable sector will be employed.
The portfolio, formed by fourteen projects, located in Sevilla, Huelva, Córdoba, Málaga, Granada, Badajoz and Teruel, will be developed in continuous dialogue with stakeholders involved in order to share their added value both during and after construction. The company’s commitment will lead to the development of renewable energy training courses for the unemployed in the different regions, opening up career opportunities in a growth sector.
Arena, after successfully developing and divesting more than 600 MW in 2021, continues to play a key role in the decarbonization of the energy mix in the Spanish economy.
Arena Power was advised by ATA Renewables (Technical), Ramón y Cajal (Legal), and Voltiq (Financial).
Arena is currently developing a ca. 8 GW photovoltaic and onshore wind pipeline in Spain, as well as a ca 2 GW green hydrogen pipeline. Arena was established in 2019 with the ambition to become an IPP in the Spanish market and includes an in-house team with unparalleled capabilities across the development process.