New Solar Investment by Impax

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.

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