Hive Offloads 252MW Sabinar In Spain

Hive Offloads 252MW Sabinar In Spain

Hive Energy has sold its 252MW Sabinar solar farm in Spain to Israel’s Noy Fund and green tech group Nofar Energy for an undisclosed price.

The deal covers the rights to both phases of Sabinar, for which Hive is in the process of receiving all the relevant planning and environmental permits.

Construction in Cuenca is expected to start in the summer, and once complete the project will cover an area of 452 hectares.

The project will be constructed in two phases, with Sabinar 1 and 2 delivering approximately 169MW and 83MW of renewable electricity, respectively.

The purchase was made through Noy Fund’s and Nofar Energy’s joint venture Andromeda Solutions, and includes the costs of construction.

Hive general manager Spain Luis Martinez Hermida said: “At Hive, we continue to look for opportunities in clean energy that will combat climate change.

“Completing the sale of Sabinar to Noy is a key milestone for Hive in Spain.

“We continue to grow ambitiously across our activities in the market, including the planned delivery of 1.5GW of large-scale solar projects and 1400MW of green hydrogen projects.

“Our mission remains the same: creating transformational change for a cleaner future by delivering world class renewable energy projects.”

 Credits: renews.biz


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