Spanish solar energy installer EiDF has reached an agreement with Finlight Corporate SLU to sell up to 89.8 MW of solar self-consumption systems in a two-phase deal, maintaining its partnership with Brookfield Asset Management.
In the initial phase, Finlight will acquire 57.2 MW of systems that are either operational, under construction, or in development, along with the corresponding power purchase agreements (PPAs). This part of the deal is valued at approximately EUR 10.7 million, reflecting the worth of the assets and PPAs. Additionally, EiDF will receive EUR 14.8 million for EPC services to finalize and build the projects.
The second phase includes 114 solar projects with a total capacity of 32.6 MW. Finlight has the option to purchase these projects after they sign PPAs and meet specific milestones outlined in the EPC contract with EiDF. If the option is exercised, Finlight will pay around EUR 14.7 million. EiDF expects these projects to be completed in the second half of 2024 and the first quarter of 2025.
The entire deal represents contracts valued at roughly EUR 40.2 million for a total of 186 PPA-backed solar self-consumption facilities for industrial entities in Spain. EiDF and Finlight previously engaged in a similar arrangement in August 2023.
