New Solar Investment by Impax | Renewable Energy News Article

London, UK [RenewableEnergyWorld.com] Impax New Energy Investors (NEI) has acquired 15.5 megawatts (MW) of operating solar photovoltaic (PV) projects in three transactions in the Spanish regions of Extremadura and Castilla-la-Mancha.

These acquisitions add to 15.6 MW of solar PV projects that the NEI bought in May and June, including 3 MW in Extremadura and two projects totaling 12.6 MW in Castilla-la Mancha. In 2007 NEI also purchased about 4 MW of PV capacity now operational in the Toledo region.

The projects sell power to either Iberdrola or Union Fenosa under Spain's 40-year feed-in tariff, now set at €455/MWh [US $1,087/MWh].

"We are now invested in a diversified portfolio of Spanish PV companies that has a total enterprise value of almost €300 million," said Peter van Egmond Rossbach, director of investments at Impax Asset Management.