Solar energy is a key pillar of the European renewable energy transformation. In countries with higher sun exposure, photovoltaic panels yield higher returns than in countries with less sun. Hence, sun-rich Portugal is a perfect spot for the creation of solar parks. In this article, we are introducing three interesting investors that acquire whole PV parks in Portugal or interests in them.
1) Aquila European Renewables Income Fund (United Kingdom)
The listed Aquila European Renewables Income Fund from London has a few target countries – one of them is Portugal. Besides solar, the fund purchases wind and hydro renewable energy assets. In 2021, the fund acquired, through subsidiary Tessearct, a 50% stake in a 60MW solar park in Ourique, Portugal. The project is located in Alentejo and was already delivering electricity to the grid in December 2019.
2) R Power (Poland)
Another solar energy investor active in Portugal is R Power. The firm acquired a solar park portfolio totalling 59MW in August 2021. Besides one project in Santarem, there are also two further parks included in Portalegere and Castelo Branco. In total, the investment for the park amounts €35.4M. The construction of the projects is planned in 2022.
3) NextEnergy Capital (United Kingdom)
Finally, we are listing NextEnergy Capital, which has made its solar park market entry in Portugal in October 2020. Back then, the firm acquired its first Portuguese solar asset from developers Azimuth Molecule and Cardinal Flexivel. The plant has a capacity of 17.4MWp and also comes with a 10-year PPA. NextPower’s third fund, which also pursued this investment, acquires PV parks that are either already operational or in ready-to-build status.
Image Source Unsplash 13.05.2022