Amarenco enters Spanish market with solar farm acquisition

The plant will produce enough energy to meet the electricity demand of 13,997 homes.

Irish renewable energy firm the Amarenco Group has acquired a 49.94MW solar plant from Hanwha Energy in Spain. 

This is the first expansion by the Munster firm into the Spanish market with the coming targeting further acquisitions and growth in the Iberian peninsula.

“Las Naranjillas” project is located in Carmona, Seville with an area of 137 hectares covered by 121,800 photovoltaic modules. The plant will produce enough energy to meet the electricity demand of 13,997 homes. In addition, 51,977 tonnes of CO2 will be removed from the atmosphere, which is equivalent to the consumption of 10,192 vehicles. 180 jobs were created during construction of the photovoltaic plant.

John Mullins, of Amarenco Group said Las Naranjillas sets up the first milestone on their relationship with Hanwha Energy. 

"Iberia is now a key market for Amarenco and we expect it to make a significant contribution to our balance sheet going forward.” 

Ik Pyo Kim, of Hanwha Energy said: “It is notable that we have secured business capabilities and financial stability through successful development and sale under the uncertain business environment due to the pandemic of Covid-19."

"Starting with the current project pipeline of over 1GW in Spain, we will actively proceed more than 6 GW of solar projects in total in the European market including Spain to build further meaningful achievements in the solar PV area and also across diverse renewable energy areas as a part of 10-year strategic plan.”