Hive Energy, a UK-based global renewable energy developer, has completed the sale of two photovoltaic projects in Spain to renewable energy investor Korkia. The projects, located in Málaga and Andalucía, have a total capacity of 9 MW.
Hive started developing the projects in 2019 and will remain involved until both sites reach Ready-to-Build status, which is expected later this year. Once in production, the solar farms will provide enough energy to power around 1,400 homes every year.
Hive has been working in Spain since 2016. This deal marks the 18th successful project completion for Hive Energy in the region, with a total power capacity over 1,150 MW. The company has a further 300 MW solar pipeline and 1.5GW of battery storage opportunities in the country. Earlier this year the team announced the launch of its Green Hydrogen development based in Albacete; once complete, it will be Europe’s largest hydrogen hub.
Hive’s projects across the region significantly support the transition to renewable energy. Spanish leaders have set a goal to reduce the countries carbon emissions by 2050. The Law on Climate Change and Energy Transition has two proposed phases which include a 2030 deadline to generate at least 74% of the country’s electricity from renewable sources and would guarantee 35% of the final energy consumption is from alternative sources. By 2050, the Law lays out plans for the country to be running entirely on clean energy with a 90% reduction in greenhouse gas emissions in comparison to 1990 levels.
Hive Renewables CEO, Mike O’Neill, commented on the deal: “We are pleased to partner with Korkia for the first time on this transaction, and look forward to further collaboration with them in the future. Spain is one of Hive’s most prominent and successful regions, and we are pleased to continue our support of the country’s green energy transition.”