Total Solar International Enters Spanish Solar Market
February 11 2020 - 4:59AM
Dow Jones News
By Giulia Petroni
Total SA said Tuesday that its wholly-owned affiliate Total
Solar International would develop nearly two gigawatts of solar
projects in Spain.
The French oil-and-gas company said its subsidiary established a
joint-venture with local developer of utility-scale solar plants
Powertis SA to develop solar photovoltaic panels in the country.
Powertis would bring a pipeline of 800 megawatts of early stage
projects to the venture, it said.
Total Solar International also acquired a 1.2-gigawatt portfolio
of projects developed by Solarbay Renewable Energy SL, located in
the regions of Andalusia, Aragon and Castile-La Mancha.
The first project is set to begin operations by the end of the
year, with both portfolios expected to be in service by 2023, Total
said. The company said it will pay success fees to Solarbay and
Powertis during the projects' development.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 11, 2020 04:44 ET (09:44 GMT)
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