Italian energy company Eni has reached an agreement with Azora, an independent real estate management company, to purchase a 1.2 GW renewable energy portfolio in Spain.
Azora’s investment portfolio includes three operating wind farms, one wind farm under construction (with a total capacity of 230 MW between them) and five large-scale solar power projects in the later stages of development, with a total scale of 1GW. The assets are located in Andalusia, Castile-La Mancha, Castile and Leon, Catalonia, Galicia and La Rioja.
Azora and Eni stated that they will work together to ensure that these five solar projects are put into production by 2024, and added that they are working on a broader strategic agreement to continue to expand Eni’s renewable energy platform in Spain. The market entered the Spanish market in February to purchase a 140 MW photovoltaic project from X-Elio.
Santiago Olivares, a partner in charge of Azora’s infrastructure investment, commented: “We will use our track record of more than 20 years in this field to support Eni’s ambitious growth plan.”
In its plan, Eni also hopes to develop an important renewable energy investment portfolio in Italy. A few months ago, it announced a joint venture with Cassa Depositi e Prestiti Equity. By 2025, the company will invest about 800 million euros in the country’s renewable energy sector. The two companies plan to build 1 GW of solar and wind energy projects using Italian government property.
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Post time: Jul-29-2021