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August 22, 2022

EiDF Solar acquires 252MW solar project portfolio in Spain

The acquisition of the four projects has increased the company's pipeline to more than 2.4GWp.

Spanish energy company EiDF Solar has announced the acquisition of four solar projects, with a combined capacity of 252MWp in Spain.

Two of the four projects are located in Castilla La Mancha, have a total capacity of 102MWp and are linked to the transmission grid.

EiDF said that both projects are in the advanced processing phase and have already obtained permits, licenses, authorisations and land.

Spanish grid operator Red Eléctrica de España (REE) has granted access and connection permits for the projects, whose administrative authorisation is currently in progress.

By the end of next year, the two projects are expected to achieve ready-to-build (RTB) status.

The two other projects are located in the Castilla y León region and have a combined capacity of 150MWp.

EiDF said that these two projects are linked to the power transmission network.

The acquisitions have increased the company’s pipeline to more than 2.4GWp.

Based in Spain, EiDF Solar is a national company that specialises in solar photovoltaic (PV) energy projects.

The company is said to have been in the business for more than a decade and has been offering a wide range of services to the industry.

Its service portfolio includes engineering services, energy consultancy and the installation of low and medium voltage.

Last month, EiDF reported a turnover of €180.7m ($180.8m) in the first half of the year, exceeding the objectives set in its Business Plan.

The company has also set a target of €299m for this year.

Its recorded earnings before interest, tax, depreciation and amortisation (EBITDA) were €26m, 86.6% of its target for the year.

EiDF said that the six-month period was marked by an increase in Spain’s self-consumption sector, in which the company claims to be a leader.

The firm formalised contracts with small-to-medium enterprises (SMEs) and large companies worth a total of 89.6MW.

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