Corporate news: VERBUND acquires a 70% share in one photovoltaic and four wind power project companies in Spain with a total capacity of 171 MW from Capital Energy Power Vortice S.L.U.

VERBUND AG announces the acquisition of 70% of four wind farms and one photovoltaic plant developed by Capital Energy in Spain. The four wind and one PV project companies, respectively, will have a total capacity of 171 MW and will consist of four wind farms totalling to 151 MW, as well as one solar plant with an installed capacity of 20 MWp. The projects are currently under construction and will be commissioned gradually between quarter 2/2022 and quarter 1/2023. In addition, three PV hybridization projects in the south of Spain totalling 80 MW are under development. The parties have agreed not to disclose the purchase price or further details of the transaction.

The shares are being sold by Capital Energy Power Vortice S.L.U (“CE”), a wholly owned subsidiary of Capital Energy. Capital Energy is one of the largest Spanish project developers in the renewables sector. The company was founded in 2002 and has extensive experience in developing, installing and operating wind farms and PV installations.

VERBUND’s 2030 strategy plans for significant growth in the area of solar and wind power with the objective of producing around 20–25% of total electricity generated from photovoltaic systems and onshore wind farms by 2030. After successfully entering the Spanish market with the Illora project in late November 2021, this transaction marks another important step toward achieving this goal.