Endesa, through its renewables subsidiary Enel Green Power España, and Prodiel have closed a deal in which Endesa acquires 100% of the capital of 13 companies which own photovoltaic projects in Spain from Prodiel for €36 million. The agreement reached by the two companies also includes contracts in which Prodiel will be responsible for providing the co-development services for these projects for €65 million, which also include local taxes for the construction and cover grid connection costs.
The thirteen acquired companies have 1,037 MW of capacity to develop through 10 projects. Of this figure, 102.5 MW could be completed and commissioned in 2020, and the rest will be developed between now and 2022, which is a major step forward towards achieving the new capacity objectives announced in the Endesa Strategic Plan 2020-2022, presented at the end of November. When they enter into operation, the estimated production of all these projects will amount to 1,990 GW/h per year (or what more than 500,000 households consume), which will prevent the emission into the atmosphere of more than 1.6 million tons of CO 2 annually.
Prodiel’s portfolio is distributed throughout Spain. The acquired companies have projects in Huelva (more than 30 MW), Seville (three projects totalling more than 200 MW), Badajoz (150 MW), Cáceres (50 MW), Granada (329 MW), Valencia (50MW), Barcelona (45 MW), and Soria (180 MW). All these projects acquired from Prodiel have REE (national grid) connection rights.
This renewable capacity is in line with Endesa’s strategy of decarbonising its generation mix by 2050. To achieve this, the first milestone of the latest Strategic Plan (2020-2022) will be to reach 10.2 GW of renewable installed capacity by 2022, compared with the 7.4 GW estimated for the end of 2019, with a total investment of about €3.8 billion.
Endesa follows a renewables facility development model that incorporates actions to create social value for the environments in which they are built, known as the Creating Shared Value (CSV) model. CSV actions prioritise the incorporation of local labour, as well as the development of projects of benefit to the community.
Endesa currently manages more than 7,343 MW of renewable capacity in Spain. Of this figure, 4,701 MW are from conventional hydraulic generation. The rest, more than 2,635 MW, are managed through Enel Green Power España (EGPE) and come from wind (2,203 MW), solar (339 MW), mini-hydro (79 MW), and other renewable energy sources (14 MW).