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Solarstrom to Build 440 Megawatts of Solar Power Plants in Spain

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Oct. 10 (Bloomberg) -- SAG Solarstrom AG, a German renewables developer, plans to build 440 megawatts of solar generation capacity in Spain’s Extremadura region with partners.

Solarstrom agreed with Valsolar 2006 SL and Cavalum SGPS SA to develop a 165-megawatt project in the Bienvenida district and three smaller plants in Calzadilla de la Serena, it said today in a statement. The total investment will be in the “three-digit million range,” according to the Freiburg-based company.

Construction may start in the second half of 2013, Solarstrom said. The German developer, which will own 51 percent of the venture building the plants, will seek to sell the output through power-purchase agreements with utilities and has backing from local authorities, it said.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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