Q Cells’ Green Energy Solutions (GES) division has successfully developed a new 50 MW solar PV project in Las Majadillas, near to the southern Spanish city of Jerez de la Frontera, and sold a 100% equity stake to NPIII ESG, the international solar fund of solar specialist and investment manager, NextEnergy Capital (NEC).
Now, since securing a construction license from the Urban Planning Delegation earlier this year, Q Cells, as EPC and O&M contractor for the Agenor solar park, has begun construction of the plant and aims to complete it by Q2 2022.
Agenor plant begins to take shape
Q Cells will install a total of 116,592 solar modules at the Las Majadillas site, mounted on single-axis trackers for maximum energy yield all year round. Construction of the 50 MW plant will create up to 200 local jobs and generate continuous economic activity in the region post-connection to the grid. Solar PV has been the driving factor behind the growth of Spain's green energy sector.
In 2020, Spanish photovoltaic association UNEF confirmed that 3.4 GW of new PV capacity was installed over 12 months – marking the second-best year for solar in Spain; just short of the 4.2 GW of new solar added in 2019. This year promises to be another strong year, with UNEF forecasting cumulative installations to once again surpass 3 GW – with the bulk of development coming from the large-scale ground-mounted sector.
Spain key geography with high growth potential
Sangchull Chung, head of Green Energy Solutions, Q Cells, added: “Q Cells is excited to have broken ground on the 50 MW Agenor solar plant. It has been a pleasure to work closely with the skilled and knowledgeable staff at NPIII ESG in order to bring the project to this milestone, and we look forward to continuing our partnership with NPIII ESG over the coming years as both EPC and O&M provider for the project.”
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Filinto Martins, Managing Director and Head of NPIII ESG, said: “This acquisition further increases our expansion in Europe, in particular in a market as Spain which we see as a key geography with high growth potential. I am excited to see NextPower III ESG continuing to rapidly increase its presence globally, whilst also showcasing the ability of the investment team to seek new exciting deals and bring them to fruition, in close partnership with reputable and highly skilled partners such as Q Cells. ”
Q Cells with pipeline of more than 5 GW in Iberia
Q Cells GES division has a development pipeline of more than 5 GW of solar projects in Iberia alone, and a portfolio of solar assets in the Poland, Italy and Germany. Recently, Q Cells’ mother company Hanwha Solutions acquired a 100% equity stake in RES France – the French business unit of renewable energy company, RES Group – in a deal that, once completed, will add another 5 GW of renewable energy projects to Q Cells’ European pipeline, boosting it to 10 GW across the continent. (hcn)
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