Luxcara, one of the leading asset managers for renewable energy investments, has acquired the solar project Guillena-Salteras located in southern Spain.

The plant will have a projected capacity of approximately 121 MWp. Construction works will begin shortly. The facility is expected to be connected to the grid in Q2/2020. Like project El Salobral, which Luxcara acquired in December 2017, Guillena-Salteras will sell the produced electricity directly to an off-taker on the basis of a power purchase agreement (PPA).

The solar park is situated north of Sevilla in the intensely sunny region of Andalusia and will be connected to the Salteras transformer substation, owned by Red Eléctrica de España S.A. The project, acquired for a portfolio for institutional investors, was developed by Solarig Global Services S.A., who will also build the plant as an EPC contractor.

"This is our second investment in southern Spain within a year. Andalusia continues to convince us with its high specific yield and very low LCOE," says Dr. Philip Sander, managing partner of Luxcara.