VERBUND to acquire a 70% stake in the photovoltaic portfolio from Capital Energy.

VERBUND, an electricity company, agreed to acquire a 70% stake in one photovoltaic and four wind power project companies from Capital Energy, a wind and solar energy developer. Financial terms were not disclosed. The four wind and one PV project companies, respectively, will have a total capacity of 171 MW and will consist of four windfarms totalling to 151 MW, as well as one solar plant with an installed capacity of 20 MWp. The projects are currently under construction and will be commissioned gradually between quarter 2/2022 and quarter 1/2023. In addition, three PV hybridization projects in the south of Spain totalling 80 MW are under development. The parties have agreed not to disclose the purchase price or further details of the transaction.