Israeli-based solar company Ellomay has announced the commissioning of a 300 MW Talasol PV project in Spain. Located in Talavan, in the province of Cáceres, in the country’s southern region of Extremadura, the solar park is currently the third largest PV installation in Spain, after the 500 MW Núñez de Balboa solar plant owned by Iberdrola and the 493 MW Mula project owned by the Spanish industrial group Cobra.
Ellomay acquired Talasol Solar, a special purpose vehicle owning the project, for €10 million in May 2017. In January 2018, the company secured a binding term sheet with an undisclosed international hedge for the projects. The company said the financial hedge will cover between 3.5 TWh and 3.7 TWh of power over a 10-year period, with the facility currently selling electricity on the spot market.
Project construction started 17 months back. Greek developer and contractor METKA EGN was responsible for the engineering, procurement and construction (EPC) side of the project.
In September 2020, the company said the project Capex was estimated at €240-260 million and that a 49 per cent stake in the asset had been sold to a Capital Dynamics vehicle and Fond-ICO Infraestructuras II, FICC. Financial closing for the project was achieved between the end of 2018 and March 2019.