Tamesol, the Catalan, Spain-headquartered producer of solar panels, has confirmed the sale of its flagship Girona production facility to U.K. multinational International Solar Group (ISG) for an undisclosed fee.
The purchase of the plant sees ISG acquire Tamesol, with the deal intended to allow the Spanish firm to continue to pursue its expansion plans, while ISG sidles into a competitive corner of the European solar landscape and wider renewable energy sector.
Tamesol has been in operation from its Catalonian base for more than 12 years, and has shipped more than 1.6 million of its TM-Series modules to 30 countries worldwide. ISG and Tamesol have agreed to keep any disruptions to a minimum, with both companies pledging to keep all human, technological and management resources in place.
Tamesol’s current footprint globally includes its Girona central offices, a Los Angeles branch, production facilities in China, India and Taiwan, and a logistics warehouse in Rotterdam.
Part of the terms of the acquisition agreement will see Tamesol provide 300 MW of solar panels for a macro project in India, of which ISG is a promoter. Completion for these projects is penciled in for the midway point of next year, where ISG is involved in the creation of PV parks in Bengaluru, Bhuwaneswar, Ananthpur, Vayalpadu and Gujarath.