Renewable energy investor Capital Energy is all set to sell a portfolio of 4.3 gigawatts (GW) in Spain.
This comes as the Spanish-based company hired Lazard to sell its portfolio of onshore wind and solar power plants.
According to the reports, the portfolio is estimated to be worth up to $1 billion.
“The sale, named "Project One", consists of 48 projects ready to start construction within the next 15 months amounting to 1.6 GW, 0.7 GW of solar PV potential that can be integrated into the wind portfolio and 2 GW of early-stage wind assets,” a report quoted.
According to Capital Energy, currently it holds a renewable portfolio of 25 GW. Out of this, 10 GW are in advanced development.
The latest development comes at a time when Spain is focused on increasing targets for wind generation capacity to 62 GW, photovoltaic solar generation capacity to around 76 GW and power storage capacity to 22 GW. It has already drafted a renewable strategy.