Greening acquires solar projects in Andalusia, with solar pipeline and annual production estimated in the fourth quarter.
OX2 sold a 45 MW solar pipeline in Spain to Greening in the last quarter of 2023. The deal also involves rights to projects in the final stage of solar development in the Andalusia region. The estimated annual production of the sites, once fully operational, is around 84 GWh. This sale represents OX2's second photovoltaic panel transaction in Spain. O solar portfolio of the company totaled more than 6,4 GW at the end of the third quarter and this is the third time that the company has made divestments recently. Solar power is a crucial part of OX2's expansion strategy into new technologies and is part of the push for a transition to fossil-free electricity, said the company's chief executive Paul Stormoen. The impact of the transaction on OX2's results will be limited, added the company.
O solar project portfolio of OX2 continues to grow, with the most recent sale of a 45 MW solar pipeline in Spain to Greening in the fourth quarter of 2023. Additionally, the agreement includes rights to projects in the final phase of solar development in the Andalusia region, with an estimated annual production of around 84 GWh. With a solar portfolio exceeding 6,4 GW at the end of the third quarter, OX2 demonstrates its commitment to expanding solar energy and reducing dependence on fossil fuels. The transaction will have a limited impact on the company's results, OX2 said. Solar energy is an essential part of the company's strategy, contributing to the transition to more sustainable and clean electricity, the company added.
Constantly growing solar portfolio
This quarter, our portfolio of solar projects continues to grow, strengthening our portfolio of solar energy na Andalusia region. With a total of 15 solar projects under development, including a large solar pipeline, our estimated annual production of fossil fuels is about to reach a new milestone.
Investment in new solar technologies
Our commitment to disinvestment in fossil energy continues to drive the growth of our solar portfolio. the implementation of photovoltaic panels Next-generation technology is enabling greater efficiency in solar energy production, with a limited impact on the bottom line.
Expansion of the solar project portfolio
We are proud to announce that, in fourth quarter, we will launch three more solar projects in the Andalusia region. With this, our solar energy portfolio will reach a new level, consolidating our position as leaders in the renewable energy sector.
Commitment to sustainable solar energy
The CEO reaffirms the company's commitment to expanding the solar portfolio, providing our customers with clean, renewable electricity. Our mission to offer a sustainable alternative to fossil fuels remains unwavering.
Continuous innovation in solar energy
With the implementation of cutting-edge technologies, we are raising the quality standard of solar energy, ensuring that our portfolio of solar projects is always at the forefront of the sector. We spare no effort to offer innovative and sustainable solutions to our customers.
Source: © Re News.Biz
