This is a facility that includes tracking systems, which has been connected to the national electricity grid in the country since July 2021. All of the facility’s production is sold on the open market. As part of the agreement, the company signed a 30-year lease with the option of renewing for another 30 years. The expected annual profit of the facility is about 3.6 million euros, which is a yield of about 13.8%.
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Now that it has purchased half of the facility, Lahab has the option to purchase the other 50% within 12 months at a price of 13.6 million euros. The current holder of these percentages is a veteran company in the Portuguese energy market with additional solar installations. The current purchase of Lahav is the first step in the strategic partnership between the two.