VERBUND AG is purchasing the Illora photovoltaic project in southern Spain from BayWa r.e. The solar park, with a planned total capacity of 147.6 MWp, is set to enter operation in the first quarter of 2022.
The Illora solar park is located in Pinos Puente, near Granada. The design comprises three PV system sections with a planned total capacity of 147.6 MWp. Illora will produce approx. 260 GWh of green electricity per year. Construction of the photovoltaic park commenced in May 2021 and commissioning is scheduled for the first quarter of 2022. The parties have agreed not to disclose the purchase price or other details of the transaction.
BayWa r.e is a leading global developer, service provider, PV wholesale distributor and provider of renewable energy solutions. The sale of Illora highlights the company’s growing success in the Spanish market, in which BayWa r.e. has a pipeline of over 1.4 GW of solar and wind projects. “We are delighted about the successful collaboration with VERBUND and are very proud of the implementation of the large Illora project, which ranks among our pioneering projects in southern Europe. Thanks to our many years of experience, our global network and fantastic team performance, we will be able to come in on schedule despite the restrictions caused by COVID-19 and delivery bottlenecks,” explains Dr Benedikt Ortmann, Global Director Solar Projects at BayWa r.e. He added: “Spain remains one of our core markets and we have been able to post strong growth here in recent years.”
VERBUND AG is Austria’s leading energy company and one of Europe’s largest generators of electricity from hydropower. The company generates around 95 percent of its electricity from renewables, primarily hydropower. “The VERBUND Strategy 2030 envisages significant growth in the area of renewable energies with the goal of achieving around 20-25% of total production from photovoltaics and onshore wind by 2030. In addition to entering the Spanish market, this transaction represents another important step on the way to the future of renewable energy,” says VERBUND CEO Michael Strugl.
About VERBUND
VERBUND AG is Austria’s leading energy company and one of Europe’s largest generators of electricity from hydropower. The company generates around 95 percent of its electricity from renewables, primarily hydropower. VERBUND trades in electricity in 12 countries and achieved an annual turnover of approximately 3.2 billion euros in 2020 with around 2,900 employees. With its subsidiaries and partners, VERBUND is active in the segments of electricity generation, transport and international trade and distribution. VERBUND has been listed on the Vienna Stock Exchange since 1988, with 51% of the share capital held by the Republic of Austria.
VERBUND is one of the most environmentally friendly energy companies in Europe, contributes significantly to supply security and is particularly committed to climate and environmental protection, careful use of resources and social responsibility. Sustainability is an essential part of the corporate strategy. VERBUND is working intensively on the expansion of renewable energy sources and is thus making a significant contribution to a low-carbon energy future. VERBUND is a signatory to the UN Global Compact and supports the United Nations 2030 Agenda for Sustainable Development and its 17 Sustainable Development Goals (SDGs). Further information: www.verbund.com
