Smartenergy And Prodiel Form Joint Venture To Develop More Than 4GW Of Solar PV in Spain
Apr 27, 2022
The partners announced that Swiss green energy investment company Smartenergy Investment AG and Spanish renewable energy EPC specialist Prodiel SL have formed a joint venture (JV) to develop more than 4GW of solar PV projects in Spain.
According to the press release, their joint venture, named Greenfield PV, started its activities with a team of more than 50 experts working on a 4 GW plus portfolio.
The joint venture agreement is complemented by another deal, Smartenergy's acquisition of a pipeline of more than 1 GW of solar PV projects from Prodiel. Greenland PV will also provide development services for the portfolio, the partners said. It is not clear from the press release whether these projects are also in Spain.
Financial details of these arrangements were not disclosed.
According to Prodiel's website, the Spanish contractor has executed more than 750 energy projects in 11 countries around the world, mainly focusing on solar photovoltaics and high-voltage infrastructure. Last year, the company partnered with another investment manager, Madrid-based firm Everwood Capital, to form a photovoltaic-focused joint venture with the goal of developing gigawatts of solar in several European and Latin American markets.
