Bulgarian firm buys 50MW Spanish solar power project

Bulgaria-based investment firm REEF Development has acquired a 50MW unsubsidised solar photovoltaic (PV) project in Spain's central-western Extremadura region, international law firm Watson, Farley & Williams (WFW) announced today.

The Jerez de los Caballeros project was acquired from the German solar developer Viridi RE Development, with WFW acting as adviser in the deal.

The stage of development and estimated construction and commissioning timeframe for the project remain confidential, WFW told Argus.

No power purchase agreement (PPA) has been signed yet for the sale of electricity from the future plant, which will be located in the Burguillos del Cerro municipality in the Badajoz province.

This is the second M&A deal in the Spanish solar PV sector announced this week. Spanish investment firm Bruc Management acquired the 49.9MW Huelva 2020 solar PV plant from local developer Alter Enersun for €41.5mn, it said yesterday.

Huelva 2020 is located in the Gibraleon municipality in the Huelva province, in Spain's southeastern region of Andalucia. It came on line at the end of last year with rights from Spain's July 2017 renewable capacity auction.

By Juan Weik