Fotowatio Acquires Four Solar Plants

Four solar photovoltaic (PV) power plants collectively rated at 32 megawatts (MW) have been acquired by Spanish solar firm Fotowatio. Located in Murcia, Spain, the four grid-connected plants, Calasparra I & II and Fuente Alamo II & III, were sold by GA Solar, a subsidiary of Spanish industrial group Corporación Gestamp. Financial terms were not disclosed.

The acquisition of the additional capacity from GA Solar brings Fotowatio’s online PV portfolio to 90 MW and also sees the company grow its pipeline of solar projects in development from approximately 900 MW to 1100 MW across Spain, Italy and the United States. This move follows the recent announcement that GE Energy Financial Services and Grupo Corporativo Landon, will invest €150 million [US $213.79 million] and €75 million [US $106.89 million], respectively, in the company.

“The expansion of our development pipeline, combined with this acquisition, have significantly increased our portfolio and represent the kind of growth we expect to continue in Spain and other key markets,” said Rafael Benjumea, CEO of Fotowatio.

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