Project Under Construction by Gehrlicher Solar España is Scheduled for December Completion
First Solar, Inc. and KGAL GmbH & Co. KG announced the purchase of a 9.9 megawatt (MW) (DC) solar power plant near, Spain by European Solar Power Fund – a renewable energy-focused fund for institutional investors managed by KGAL – from First Solar.
Currently under construction by Gehrlicher Solar España with an expected completion in December, the 37.6 hectare solar farm will produce an estimated 15,000 megawatt hours (MWh) of clean, green electricity a year – equivalent to the annual needs of around 3,400 Spanish households and CO2 savings of approximately 5,600 metric tons/year.
The solar farm is located in Pereruela in the province of Zamora, Spain, about 250 kilometers northwest of Madrid. The Zamora area is one of the sunniest in Europe, with around 1,700 kWh/m2 of sunlight a year.
As with other large, ground-mounted solar farms such as the 53MW Lieberose solar farm in Germany and 26.3MW Badajoz solar farm in Spain, First Solar helped to organize third-party financing in addition to supplying solar modules–in this case some 122,000 FS Series 3 thin-film solar modules.
Financial terms of the agreement weren't disclosed.
