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Aquila Renewables concludes 50MWp Guillena solar PV project in Spain

The project has completed construction and has entered into operation.

According to the company, Guillena is one of two assets located in southern Spain which belongs to the Greco portfolio. Another asset Jaén was the first asset within the Greco portfolio has been already in operation.

“Around €45m under the sale and purchase agreement for Guillena is expected to be paid in Q2 2023,” a local report mentioned, adding that the payment will be financed under the company's revolving credit facility.

Completion of this Guillena solar PV project is expected to grow the company's total gearing level to approximately 31.0% on a pro forma basis, the company shared.

Guillena has entered into a seven year pay-as-produced PPA with Statkraft Markets.

After the completion of this project, the company's operating capacity has grown and reached around 464MW.


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