(Wiesbaden/Valencia, 28. February 2023) ABO Wind has reached an agreement with Repsol Renovables for the sale of five renewable energy projects with a total capacity of 250 megawatts. The agreement includes the further development of the five projects by ABO Wind. ABO Wind had started developing the projects in 2018 and will continue to work on them until reaching "Ready to Build" status. The partners have agreed to not disclose the amount and cash flow structure of the sales price.
The projects comprise three wind farms totalling 150 MW, and two solar projects with a capacity of 100 megawatts. They are located in the province of Palencia in Northern Spain and will share interconnection infrastructures with other Repsol projects. All projects are at a very advanced stage of development and have obtained a positive Environmental Impact Statement, as well as most of the necessary permits.
The projects are scheduled to go into operation between 2024 and 2025. When completed, the wind and solar farms will generate clean electricity to supply 172,000 homes and avoid the emission of 266,000 tonnes of CO2 each year.
In recent years, ABO Wind has strengthened activities in Castilla y Léon. In addition to the five projects, the company currently developing further ones in the region. Another wind farm developed by ABO Wind between 2019-2022 is currently under construction in the province of Valladolid.
The company’s pipeline of projects under development in Spain is growing. 13 projects totalling 650 megawatts have already obtained a favourable Environmental Impact Statement and expect to take the next steps in the coming months.
Overall, there are excellent prospects for ABO Wind in the Spanish market. The company is currently working on specific wind energy and photovoltaic projects with a capacity of 1.1 gigawatts, and several gigawatts in early project phases in Spain, mainly in the regions of Castilla La Mancha, Castilla y León, Aragón, Andalusia, Valencia, Catalonia, and Extremadura. This portfolio is diversified between wind, photovoltaic, storage and hybrid projects for grid connection or other uses, such as the generation of green hydrogen.
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