ABO Energy Connects First Turnkey Solar Park in Spain

ABO Energy has successfully connected the Valdezorita solar park to the grid in Central Spain, marking its first turnkey solar project in the country. With a nominal capacity of 50 megawatts, the site is projected to produce around 100 million kilowatt-hours of electricity annually. This endeavor is part of the company's broader achievements in Spain, where they have developed projects totaling 1.4 gigawatts.

The turnkey approach, while challenging due to liquidity constraints and completion risks, offers higher margins than selling project rights, according to Managing Director Dr. Karsten Schlageter. The project was sold to a fund advised by EB – Sustainable Investment Management GmbH, and the electricity generated is secured under a power purchase agreement with a major US tech company.

Spain represents a significant market for ABO Energy, with a 700-megawatt project pipeline under development. While solar energy prices have decreased, making PPAs more challenging, ABO Energy is focusing on wind and battery storage projects.