Spanish solar energy solutions provider Energy Solar Tech SA (BME:ETC) has signed an agreement to buy a 35-MW wind farm project in northwestern Spain, with the aim of hybridising the future facility with 15 MW of solar photovoltaic capacity.
The selling party is Madrid-based entity Erbienergia Inversiones SL, Energy Solar Tech said in a bourse filing on Friday, without disclosing the financial terms.
The mid-cap firm will acquire the project at ready-to-build stage, planning to take charge of construction activities.
The unnamed wind farm will be located in the Spanish region of Castile and Leon. Its commissioning is expected in about 15 months.
The total output from the facility is estimated at 115.25 GWh of electricity per year. Once hybridised with solar, the entire generation complex will be capable of producing around 137.75 GWh annually, according to Energy Solar Tech’s estimates.
The transaction is part of Energy Solar Tech’s strategy to pursue a multi-tech approach and hybrid generation. This way, the firm will avoid the volatility of wholesale market prices that affect solar generation assets, giving stability and certainty to its business model, Energy Solar Tech added.
