Cubico Sustainable Investments has agreed to buy 100 MW of Spanish CSP power capacity and 174 MW of PV capacity from Grupo T-Solar, the company announced in a statement.
Cubico will acquire the 50 MW Moron and Olivenza CSP plants, expanding its Spanish CSP portfolio to 250 MW. The fund bought the 50 MW Arenales plant last year and the 50 MW Andasol 1 and 50 MW Andasol 2 plants in 2017.
Spain has seen a spate of CSP plant resales in the last few years after new tariff legislation and proven plant performance boosted investor confidence.
Spain has 2.3 GW of CSP capacity but domestic build was halted in 2013 after the government replaced feed-in tariffs with regulated asset value-based payments to recoup a state deficit. New tariff laws in 2019 guaranteed payments for operators, providing greater regulatory stability.
CSP developers also have a chance to secure new projects in national power auctions launched in December.
Image: IMAGE@ACWA Power