Switzerland-based renewable power producer Aventron AG has contracted Solarpack Corporacion Tecnologica SA (BME:SPK) to build two 50-MW subsidy-free solar parks in Spain.
More specifically, the two companies have entered into engineering, procurement and construction (EPC) deals for the Bargas and Algibicos ground-mounted photovoltaic (PV) projects in the regions of Toledo and Murcia. Spanish company Synergia Energy Solutions SL is the development partner.
Aventron expects to obtain the final building permits in early 2019 and achieve financial close in the second quarter of the year. The company is currently holding advanced negotiations on the signing of power purchase agreements (PPAs) and is structuring the necessary external financing.
Aventron is looking to achieve an installed capacity of 600 MW from wind, hydro and solar plants by the end of 2020.