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R.POWER S.A.R.Power acquires large-scale PV farm project in Spain
Polish photovoltaic company R.Power has acquired a 65 MWp large-scale PV farm project located in Ciudad Real, Spain, R.Power said in a press release. This is R.Power's first investment in Spain.
The company reported that the photovoltaic farm, located on an area of 90 hectares, will generate energy using double-sided panels and single-axis tracking systems (solar trackers), which will significantly increase energy yields compared to traditional PV systems.
The total number of panels used will exceed 100,000 and the power generated per year will be more than 130 GWh. Energy will be sold under market-based PPAs (Power Purchase Agreements). The expected time to reach the RtB (ready to build) phase is 2026.
It was pointed out that Spain is another market where R.Power is expanding its business. In this quarter alone, the company signed contracts for the general development of 23 MWp of photovoltaic power plants in Romania. In Portugal, on the other hand, R.Power has launched its first two projects with a capacity of more than 13 MWp.
In Italy, meanwhile, R.Power and Elawan Energy, part of the Japanese financial group ORIX listed on the Tokyo and New York stock exchanges, have formed a strategic joint venture to develop a portfolio of more than 2 GWp of PV projects.
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