Tion Renewables Group has finalised a deal with EDP Renováveis (EDPR) for the acquisition of a 104MW solar portfolio in Spain.
Financial details of the deal have not been divulged.
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The portfolio consists of four operational solar parks: one in Aragon, which has been operational since mid-2022, and three in Andalusia, operational since November 2024.
The projects are secured with 15-year power purchase agreements (PPAs).
The deal is subject to customary regulatory approvals and closing conditions.
Tion co-founder and chief information officer Christoph Strasser stated: “This transaction is a landmark for Tion, demonstrating our ability to execute large-scale deals while securing a high-quality portfolio of assets from a prime developer.
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By GlobalData“A key feature of this portfolio is the 15-year PPAs. Long-term PPAs like these are rare to find in the Spanish market and perfectly fit our strategy to grow and diversify our contracted revenue base.”
Tion Renewables, based in Munich, Germany, is a renewable energy producer specialising in the development and operation of onshore wind farms, solar farms and battery energy storage systems throughout Europe, providing clean energy solutions.
In November 2024, Tion Renewables signed a corporate power purchase agreement with Nobian, a European company engaged in the production of salt, essential chemicals and energy storage caverns.
Under the PPA, Tion Renewables agreed to supply green electricity to Nobian from its German wind portfolio from 2026 until 2028.
Nobian will receive power from an installed capacity of 25 MW, with an estimated annual production of between 35 gigawatt hours (GWh) and 40GWh. The deal will help reduce Nobian’s scope 2 emissions [indirect emissions which are a consequence of the activities of an organisation but occur from sources not owned or controlled by it] by 20,000 tCO₂ annually.
