- Shell New Energies Holding Europe BV (Shell) announced it has acquired Green Tie Capital’s (GTC) platform of ten medium mature solar energy projects across Spain, with potential for two gigawatts of solar power generation capacity.
According to the company’s website press release on December 15, 2022, Óscar Fernández, Shell Spain country chairman: “Shell's Group strategy is to be a leading player in the energy transition, in the markets in which it operates. With this acquisition we seek not only to increase the portfolio of renewable energy generation assets in the short term, but establish the capability to grow our renewable business in Spain further.”
“We are very happy to complete this important transaction, and hand over the stewardship to Shell,” Alvaro Garcia Borbolla CEO of GTC, said, “We will continue investing in opportunities based on technology and the environment to add value to our society.”
Spain is one of Europe’s biggest solar power markets, and solar is the fastest growing and lowest cost renewable electricity source available today
Notes to Editors
- Globally, Shell is investing in building our generation capacity. As of Q3, 2022, today, Shell has over 46 gigawatts of renewable generation potential in our portfolio (Shell equity), including 2.2 GW in operation, 3 GW under construction/contract and 40.9 GW of potential capacity in our pipeline, ranging from utility-scale solar through to innovative floating wind projects and integrated wind to hydrogen projects. For more, visit Shell Renewables and Energy Solutions
- This deal follows the framework agreement signed with GTC earlier this year.
- The transaction has completed, and the associated cash capex is covered by Shell’s current capital range for Renewables & Energy Solutions
- Twelve GTC staff will join Shell Espaňa and integrate in Shell´s Renewable Generation business
- The 2 GW of medium maturity projects have secured land exclusivity rights, demonstrated feasibility and are in either an early or an advanced stage of development
- Spain is one of Europe’s biggest solar power markets – EU Solar Power Outlook
- Solar is the fastest growing and lowest cost renewable electricity source available today – International Energy Agency’s World Energy Outlook 2020
About Green Tie Capital.
Based in Seville, Spain, Green Tie Capital manages a portfolio of investments in sustainable assets. GTC currently has a portfolio of 77 Mw of solar energy in Huelva and Cádiz, Spain under construction. For further information, visit https://greentiecapital.com/about-us/
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