UK-based renewable energy company Ventient Energy has completed its acquisition of a 443MW clean energy portfolio in Spain.
The deal was approved by regulatory authorities this month, having first been announced in December.
Located in the Spanish region of Castilla y Leon, the portfolio includes 203MW of onshore wind capacity and 240MW of solar capacity.
Ventient Energy CEO Mark Jones said: “The completion of this acquisition reinforces Ventient’s progression in the energy transition; combining wind and other technologies for effective green energy delivery in the future.
“It reaffirms the importance of our company in Iberia, which is now over 1.2GW of operating renewable generation and a significant pipeline of future development, and continues the sustainable growth of a leading renewable energy business within Europe.”
The deal will increase Ventient’s installed capacity to 2.8GW and this is expected to exceed 3GW with the development of the hybridised solar portfolio included in the transaction.
Ventient said that it will continue to work with Vapat to deliver ‘best in class’ operations.
Jones added: “Each step in our growth strategy represents a long-term development of our sustainable approach to the generation of renewable energy, which is also clearly seen in our continued environmental, social and governance (ESG) leadership in the sector.
“The diversification of our energy portfolio will improve the reliability of energy production and allow us to better respond to the challenges faced by our environment due to climate change.
“In 2022, we continue to focus on involving stakeholders in our sustainability journey, raising awareness of climate change and building even stronger ESG practices across the business, and our ongoing commitment to sustainability, pensioners who rely on us and the future of the people and the planet.”
Founded in 2017, Ventient Energy owns and operates onshore wind farms in Belgium, France, Germany, Portugal, Spain and the UK.