Spanish solar PV developer RIC Energy has sold a 115 MWp solar project in Spain.
The project was sold to Everwood Capital, which is an investment manager. The solar project is being developed in central Spain.
It has been reported that the project was acquired by Everwood for its Fund IV, "which now commands a portfolio of around 1,000 MWp of projects," a report mentioned.
According to the company, the future solar farm will be based in the Castilian province of Toledo. It will have a substation in the Madrid region, the company added.
To be noted, Madrid is regarded as one of the major hubs of power consumption in Spain.
According to the firm’s founding partner Jose Antonio Urquizu, the size of the project will enable Everwood Capital to optimize construction, operation and maintenance costs, and long-term prices of selling the electricity, a report mentioned.