Hanwha Energy Sells 50MW Solar Power Plant in Spain

[Asia Economy Reporter Hwang Yoon-joo] Hanwha Energy announced on the 10th that it has successfully signed a contract to sell a 50MW-scale solar power plant located in the Seville region of southern Spain.

Hanwha Energy acquired the solar power project rights in the Seville region of Spain in December 2018, completed development, and is preparing for the commercial operation of the power plant scheduled for this December. The power plant is expected to produce enough energy to meet the electricity demand of 13,997 households, while also reducing greenhouse gas (CO2) emissions equivalent to 51,977 tons, which corresponds to emissions from 11,192 vehicles.

The buyer is Amarenco Solar Limited, headquartered in Cork, Ireland, which actively operates solar power businesses in France, Ireland, and other countries. Since last year, Amarenco Solar has selected Spain as a new strategic base and is expanding its business area.

This sales contract is significant in that Hanwha Energy, after entering the European market, has successfully carried out all stages from solar power project development to power plant construction and sale, generating profits accordingly, thereby objectively proving its professional capabilities and business competence as a solar power operator in the European market.

Hanwha Energy established its Spanish subsidiary (Hanwha Energy Corporation Europe S.L.U) in 2018 and is currently conducting about 1.7GW of solar power projects in Spain and Italy. It is also promoting a power retail business that allows general companies and households to install rooftop solar power facilities without initial investment burdens and use 100% eco-friendly electricity. In October of this year, it launched the power retail business brand ‘Imagina Energia’ in Spain, continuously expanding its business areas.

Jung In-seop, CEO of Hanwha Energy, stated, “It is significant that we secured business capabilities and financial stability through successful development and sale amid a business environment with increased uncertainty due to the COVID-19 pandemic. Starting with over 1 GW of solar power projects secured in Spain, we plan to actively promote more than 6 GW of solar power projects in Spain and the European market over the next 10 years and expand into various renewable energy business areas.”

This content was produced with the assistance of AI translation services.