aventron signed this week general contractor agreements for the turnkey construction of two photovoltaic power plants in Spain with a capacity of 50 MW each. The contract partner is Solarpack Corporacion Tecnologica SA, an international independent solar PV power producer based in Spain dedicated to the development, construction and operation of solar PV projects. Both projects have already passed the required environmental impact assessments and the final building permits are expected at the beginning of 2019. The development partner is the Spanish company Synergia Energy Solutions SL.

The two ground-mounted systems in the Toledo and Murcia regions are among the first major solar projects in Europe to be implemented and operated without subsidies or other direct government support instruments. Each individual park will cover an area of around 90 hectares and is expected to generate around 95 million kilowatt hours of electricity per year. The total amount of energy generated thus corresponds to the annual requirements of a city with around 55,000 inhabitants.

aventron is currently in advanced negotiations on the power purchase agreements for the energy generated in the projects and is structuring the necessary external financing on this basis. Financial close and start of construction is expected in the second quarter of 2019.

The two solar park projects Bargas and Algibicos are a milestone in the implementation of aventron's growth strategy. On the one hand, aventron exceeds the short-term target of 500 MW for portfolio expansion earlier than planned and on the other hand, its solar production segment will be substantially strengthened. aventron's next step is to achieve an installed capacity of 600 MW in its core areas of wind, water and sun by the end of 2020.