Description

Spain

Business ID: L#20251052

This presents a compelling investment opportunity to acquire a 100% equity stake in a high-performing, fully operational Photovoltaic (PV) power plant located in Granada, Spain.

This asset offers immediate energy generation and significant long-term performance stability, underpinned by a favorable regulatory and contractual environment.

1. Asset Overview & Core Offering

The target asset is a utility-scale solar facility, representing a turnkey investment with an established operational track record.

• Installed Capacity: The plant has an installed capacity of 4.0 MWp / 3.6 MWn, configured for optimal grid delivery.

• Specific Yield: The facility demonstrates high energy conversion efficiency with a specific yield of 2,066 MWh/MWp.

• Annual Energy Delivery (Est.): This equates to an estimated annual energy delivery of approximately $8,264$ MWh, providing stable, predictable revenue streams.

• Location: The asset is strategically located in Granada, Spain, benefitting from a favorable solar irradiation profile.

• Operational Status: The project is Fully Operational, allowing for the immediate realization of returns (Commercial Operation Date, COD: Q4 2022).

2. Technical and Design Specifications

The plant incorporates modern, high-efficiency technology designed for optimal energy capture.

• Technology: The system utilizes Monofacial Modules (Longi LR4-72HIH-440M) with a module power of 440 W.

• Structure: It features a 1-Axis Tracking System (Type of Structure: 1-axis-tracker). This technology maximizes energy capture throughout the day compared to fixed-tilt installations.

• Development Status: The project is In Operation.

• Timeline:

  • Ready to Build (RtB) Date: Q3 2021

  • Commercial Operation Date (COD): Q4 2022

  • Provisional Acceptance Certificate (PAC): 29th December 2023

• Configuration Details: Panel Configuration is $2V$, with a Pitch Distance of $13.5$ m.

3. Financial Structure and Offtake Strategy

The project is offered on a debt-free basis, providing the acquirer with maximum financial flexibility.

• Financial Status: This is a 100% Equity Acquisition with no existing project debt in place.

• Energy Offtake Mix: Production is managed via a combination of a Power Purchase Agreement (PPA) and Merchant sales.

  • PPA Coverage: 70% of production is committed through a PPA, valid until December 2025 at a fixed rate of $65.25 €/MWh$.

  • Post-2025 Strategy: The buyer will assume responsibility for negotiating an extension of the current PPA or securing a new long-term PPA or Merchant strategy, presenting an opportunity for value creation.

4. Land and Site Rights

The project benefits from secure, long-term site access under attractive terms.

• Land Surface: The site covers 9.9 hectares over a single plot.

• Land Type: The project utilizes Rental land secured via a lease agreement.

• Lease Term: The land contract duration is 40 + 10 years, providing long-term operational certainty.

• Rental Terms:

  • The contracted percentage is $100\%$.

  • The base Land Price is $1,100 €/ha$, subject to annual updates according to the Consumer Price Index (CPI).

  • In case of an extension beyond the initial period, an additional $500$ basic points increase will apply.

• Expropriation Comments: No DUP (Declaration of Public Utility) information is available at this stage.

NOTE: The Buyer is required to execute a Fee Agreement stipulating a commission rate of 2.25% of the final transaction value, payable upon closing.