(PRESS RELEASE) VIENNA, 29-Nov-2021 — /EuropaWire/ — Verbund AG (VIE: VER), Austria’s largest electricity provider, has announced the acquisition of the Illora solar project, 150 MWp, in Southern Spain from BayWa r.e., a German leading global solar, wind, and bioenergy firm. The solar installation is located in Pinos Puente close to Granada and is divided into three photovoltaic blocks with a planned total capacity of 147.6 MWp. Illora will produce approximately 260 GWh of green electricity per year. Construction of the solar park commenced in May 2021, with commissioning planned for the first quarter of 2022. The two companies have agreed not to disclose the purchase price or any further details of the transaction.
VERBUND’s 2030 strategy plans for significant growth in the area of solar and wind power with the objective of producing around 20–25% of total electricity generated from photovoltaic systems and onshore wind farms by 2030. In addition to entering the Spanish market, this transaction marks an important step toward achieving this goal.
Head of Group Finance and Investor Relations
SOURCE: VERBUND AG