Solarpack

Ecuador’s latest procurement exercise will be open to solar, wind, hydropower and biomass projects.

Swedish venture capital fund EQT has launched an offer for the Spanish solar developer at €26.50 per share.

The Spanish developer, which will sell solar energy at an Indian record low tariff of €0.028/kWh under a 25-year deal has spoken to pv magazine about the specifics of the landmark PV plant.

Four bids have been lodged for 100 MW projects and fifth for a 90 MW facility, all in peninsular Malaysia, to indicate the 500 MW tender will fall short of its intended capacity. The lowest solar power price lodged is for $0.042/kWh.

Canadian Solar, Acciona, Enel, EDF, Solarpack and Trina are among the contenders to develop large scale renewables projects. Some 26 power distributors are participating in the procurement as buyers.

The Spanish developer has acquired the Tacna Solar and Panamericana Solar projects which it developed and built for X-Elio in 2012.

The Spanish developer’s operating revenues reached €12.5 million in the first quarter of 2019, up roughly 35% from the preceding three-month period. EBITDA stood at €4.5 million, up 14% from the fourth quarter of 2018, suggesting that the company has been moving from strength to strength since listing its shares in December.

The capacity comes from two solar parks and five wind power plants awarded firm energy obligations for 2022-2023. The Reliability Charge auctions were created by the Colombian government to ensure power supply during water shortages.

The plant is being built by Spanish developer Solarpack in the Atacama desert. The project was selected in an energy auction held by the Chilean government in 2016. At the time, Solarpack’s bid of $29.1/MWh was a record low for solar.

The Spanish developer is expected to increase capital between 38.5% and 40.7%. The price range has been set between €8.0 and €10.3 per share. The raised funds will be invested mainly in the execution of the contracted portfolio of projects totaling 510 MW, in the acquisition of 13 MW of operating assets in Spain and in the development of its additional portfolio of projects totaling 2.9 GW.