Afcon Holdings reported this morning that it has signed another development agreement for a solar energy project in Spain, with a potential capacity of about 250 megawatts.
Two weeks ago, the company reported the acquisition of a 101-megawatt project in Poland, following a 350-megawatt energy collection development project in Spain, carried out by a subsidiary in collaboration with Migdal and Menora.
The total cost of setting up the project is expected to be about 170-180 million euros, while the required equity is expected to be about 80 million euros assuming the construction of all 250 megawatts, and it will be funded by the partnership.
Israel Reif, Chairman of Afcon Messer“This is a significant addition to our portfolio of projects in Europe. The new project is expected to be among the largest solar projects in Spain and will add to Afcon’s renewable energies significant solar power in high radiation areas. In this way Afcon will become a significant player in the field of renewable energies.”