Spain’s Greenalia Purchases A 670-MWp Texas Solar Plant, Says Its Expanding Into America

Greenalia SA, a Spanish firm, has acquired a US renewable energy company with a 670-MWp solar PV project in Texas in order to join the US market and has stated that it aims to make other acquisitions in the country.

According to Greenalia, the company's strategy plan to diversify risk, introduce another currency, and branch out into new technologies, includes expanding across the pond.
The company's onshore wind farms and biomass-fired plants are currently operational in Spain, but it also has multiple solar PV and floating wind projects in various stages of development.
According to Greenalia, the acquisition of the unnamed US company provides it with a ready-to-build solar project with grid access permissions in place, as well as the potential to develop 170 MW of battery storage.

The solar plant will begin construction in 2022. According to Greenalia, if the storage project goes ahead, the two projects will cost approximately USD 450 million (EUR 381.5 million).
Greenalia Power US Inc and Greenalia Solar Power US Inc, the company stated, were recently established in the United States to manage future operations in the country.
Greenalia Solar Power Inc finalized the previously announced transaction, according to a bourse filing.

Greenalia has stated that it intends to begin the permitting process for new solar, wind, and energy storage projects in the United States. and "will continue to study the purchase of other companies in the sector."

Manuel Garcia Greenalia CEO said, "The strong commitment and drive of the US Administration for renewable energies has opened an attractive window that we must take advantage of."

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