Ellomay trusts in Enertis as Technical Advisor for the acquisition of Talasol Solar

Ellomay trusts in Enertis as Technical Advisor for the acquisition of Talasol Solar

The 300 MW solar power plant, with an annual production of over 580 GWh is expected to be the largest photovoltaics facility in Spain.

Enertis has been the technical advisor of the Israeli company Ellomay Capital in the acquisition of Talasol Solar. Talasol Solar is the corporation which has developed the permits for the construction and operation of a 300 MW solar photovoltaics plant in Talaván, in Extremadura (Spain), which could become the largest photovoltaics installation in Spain and one of the largest throughout Europe.

For the evaluation of the project’s feasibility the Israeli company has trusted in the support of Enertis’ consulting team. The CAPEX is estimated to be in a range of 225-255 million euro. The project is projected to be construction ready in about ten to 15 months. Once in operation, the plant’s annual production capacity should amount to more than 580 GWh, what equals to the annual electric power consumption of some 170,000 households (assuming an average Spanish household of three persons).

Apart from the advisory work done for Ellomay, the consulting team of Enertis has recently participated also in other very important photovoltaic transactions in the Southern European country that has experienced in recent months a constant activity in its secondary market. During the last months, driven by the interest of international and national players, a considerable number of renewables projects reached financial close, amounting to a total of about 3.5 billion euro (considering the period from Q2-2016 to Q2-2017).

Excellent natural resources together with important cost reductions in photovoltaic systems have contributed in a favorable manner to reactivate renewable energy projects in Spain, eagerly awaited by the industry. Additionally, the recent auction as well as emerging business models that are arising around energy commercialization, storage and consumption, restore confidence in the Spanish renewables market.