Greencells Buys 300 MWp Of Solar Projects in Spain, Greece
Apr 01, 2022
German solar developer and EPC service provider Greencells has acquired solar projects in Spain and Greece with a combined capacity of over 300 MWp, boosting its development pipeline in Europe to over 3.5 GWp.
The acquisitions include the Leda and Bizarrona projects in Spain, with a combined capacity of 29 MW, and the 275 MW Megalo Monastiri project in Greece.
The group's solar development projects are spread across nine European countries, with Italy accounting for the largest share of 1.5 GWp, followed by Greece with 525 MWp and Spain with 400 MWp.
CEO Andreas Hoffman said: "All projects are on schedule. Our projects in Hungary and France are already under construction. For many other projects, the ready-to-build status is only a formality, It can be expected within a few months.”
Greencells expects the sale of its projects under construction to generate more than 25 million euros ($27.7 million) in net cash inflow in 2022 and 230 million euros in EPC revenue this year and next. (1 EUR = 1.109 USD)
