The project portfolio acquired by Endesa includes 11 projects under development in the province of Huelva. Credit: Endesa Energía.

Electricity company Endesa has announced the acquisition of a 519MW solar photovoltaic project portfolio from Arena Power in Spain.

Endesa executed the deal through its renewable energy operator Enel Green Power España.

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The portfolio includes 11 projects representing an investment of approximately $415m (€350m), including the price of acquisition, construction and start-up. Construction will begin next year, with operations starting in 2024.

Endesa Generation general manager Rafael González said: “This deal is a firm step forward in our development of the strategic plan for 2021-2023, and a demonstration of Endesa’s commitment to the decarbonisation of the Spanish economy.

“Constructing these renewable farms close to areas of great power consumption is the most effective way of making industrial activity sustainable in Huelva.

“We are also executing these projects by creating shared value to benefit local communities, as we have been doing in other renewable sites in recent years.”

The projects in the deal are located across six sites in the province of Huelva including Palma del Condado, Gibraleón, Trigueros, San Juan del Puerto, Beas and Niebla.

Together, the sites will power nearly 305,000 homes via a single transmission line connected to the Palos substation. Located in the Huelva Industrial Park, the substation supplies electricity to chemical, oil and metallurgical businesses in Huelva.

During construction, the projects will create 1,250 jobs, with another 26 jobs coming from their subsequent operation and maintenance.