Enlight Renewable Energy is adding solar and storage to its Gecama Wind Farm in Spain. (Illustrative Photo; Photo Credit: r.classen/Shutterstock.com) 
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Europe Solar PV News Snippets: Enlight Raises $310 Million For Spain’s ‘Largest’ Hybrid RE Project & More

Greenvolt offloading 231 MW wind & solar; ALTÉRRA to invest in Italian renewable energy platform; TotalEnergies acquires 435 MW from Low Carbon in the UK.

Anu Bhambhani

Enlight to expand Gecama wind project: Israel’s Enlight Renewable Energy has raised close to $310 million to integrate a solar array and utility-scale energy storage system (ESS) for the hybridization of its 329 MW Gecama Wind Project in Spain. The asset management arm of Munich Re, MEAG Infrastructure Debt Transactions Team, acted as the lead arranger for the transaction. The integrated facility will sport a total capacity of 554 MW and 220 MWh to deliver clean electricity round-the-clock (RTC) at competitive cost, it said. The storage system will also support peak shifting to increase the project’s profitability. Commercial operations of the solar and storage components are expected in H2 2026. Their addition will ensure the integrated project’s annual revenues reach $95 million to $105 million and EBITDA between $75 million and $80 million.

The Gecama Hybrid Project is expected to become the largest renewable energy complex of its kind in Spain on completion, according to Enlight.

231 MW to change hands: KKR-backed Greenvolt Group has agreed to sell its 231 MW portfolio of wind and solar projects in Spain to Transiziona, a company owned by White Summit Capital, for €195 million. The agreement includes a forward sale to commercial operation date (COD) of projects with a total capacity of 145 MW, and a platform with a greenfield portfolio with an additional capacity of 86 MW. It is part of the company’s strategy to rotate 70% to 80% of its large-scale projects in the ready-to-build (RTB) or COD phases. Its current pipeline comprises 13.2 GW spread across 18 nations.

Italy’s Absolute Energy bags €50 million: The world’s ‘largest’ private investment vehicle for climate finance, with a $30 billion commitment from the UAE, ALTÉRRA is investing €50 million in the Italian renewable energy platform Absolute Energy. ALTÉRRA has made the commitment via its ALTÉRRA Acceleration Fund, making this co-investment alongside global infrastructure investment manager I Squared Capital. It will accelerate the development of an initial active pipeline of 1.4 GW projects in Italy.

Low Carbon sells RE projects to TotalEnergies: France’s TotalEnergies has acquired a pipeline of 8 solar projects with a combined 350 MW and 2 battery storage projects with 85 MW capacity in the UK from Low Carbon. These projects are under development in the south of England. The solar projects are targeted to become operational by 2028 and produce over 350 GWh/year of renewable electricity. It expands TotalEnergies’ integrated electricity portfolio in the UK that currently includes 1.1 GW of gross installed offshore wind, 1.3 GW of gross combined cycle gas turbine, and more than 600 MW of solar projects under development.