Soltec and TotalEnergies increase their joint project portfolio in the region of Murcia

• TotalEnergies has acquired 65% of a project under development with a 59 MW installed capacity
• The project will generate around 118 GWh per year, enough electricity to cover the average annual consumption of more than 33,700 households
• The agreement guarantees that the project will use Soltec’s solar trackers and construction services

Soltec, a vertically integrated company dedicated to photovoltaic projects, and TotalEnergies, a multi-energy company, have increased their joint project portfolio in the region of Murcia.  The transaction involves the acquisition by TotalEnergies of Campos del Río project, with a 59 MW installed capacity.

This is a co-development agreement through which both companies continue to advance in the energy transition in the region, with TotalEnergies holding 65% of the project and Soltec 35%.

The future solar plant will generate enough electricity to cover the estimated annual consumption of more than 33,700 households, while avoiding the emission of more than 31.800 tonnes of CO2 per year.

Raúl Morales, CEO of Soltec, said: “We are proud to announce the sale of a 65% stake in Campos del Río project in Murcia to a partner such as TotalEnergies. This collaboration not only aligns with our commitment to advance in sustainable energy solutions, but also highlights the strength and attractiveness of our assets under development. We are confident that our partnership with TotalEnergies will continue to progress and contribute significantly to the growth of clean energy production in the region of Murcia”.

Yago Mancebo, Managing Director of TotalEnergies Renewables in Spain said “our company has made a firm commitment to promote renewable energy in a strategic region for us such as Murcia. We are very pleased to be able to strengthen our joint portfolio of projects with Soltec through this new agreement that allows us to demonstrate our capacity and solvency in promoting the energy transition“.

Commitment to the Region of Murcia

Last year, TotalEnergies and Soltec obtained a favourable Environmental Impact Statement (EIS) for six solar plants that they are jointly developing in the Murcia region. These projects have a total installed capacity of 352 MW, generating around 700 GWh per year. During the lifespan of these plants, the emission of more than five million tonnes of CO2 into the atmosphere will be avoided and sufficient energy will be generated to cover the estimated annual consumption of more than 200.000 homes per year.

Boosting energy transition

In Spain, TotalEnergies is developing a portfolio of more than 4 GW of solar energy, three of them with environmental permits, representing a total of 48 projects in different phases in Madrid, Murcia, Andalucía, Aragón and Castilla La Mancha. During 2023, the company made progress in the construction of various solar plants, such as those located in Guillena, Seville, or Los Valientes, which it is developing with Soltec in the town of Molina de Segura. In Murcia, both companies already have La Asomada in operation and La Isla which is about to come into operation.

Soltec’s photovoltaic project development division has 14 GW in different stages of development in 8 countries (Spain, Italy, Brazil, United States, Colombia, Mexico, Romania and Denmark). Soltec Development develops projects from greenfield to ready-to-build.

Throughout the 2023 financial year, Soltec has sold more than 1,394 MW, having completed the sale of 850 MW in Denmark, 130 MW in Colombia, 49% of a 52 MW project in Italy, as well as the transaction reported today with the sale of 65% of a 59 MW project in Spain to TotalEnergies. In addition, Soltec Development has sold to Soltec Assets more than 300 MW in 2023, corresponding to 9 projects in Spain.