aventron strengthens its position in hydropower in Europe

aventron confirms its growth ambitions in the field of hydropower generation while selling its minority stake in the French family company UNITe

Hydroelectric power is one of aventron’s three renewable resources for power generation in Europe and the origin of the company. The company is consistently pursuing its development initiative to further expand hydropower as part of its diversification strategy. At the end of 2017, the portfolio of hydroelectric power plants spread over Norway, France, Switzerland and Italy had a combined capacity of 74 MW for 32 plants. At the end of 2018, the cumulative capacity had already reached 105 MW for 39 plants, including plants under construction or in an advanced development phase. Thus, a new 1.4 MW power plant was commissioned at the end of 2018 in Italy on the Parma River. In Norway, many construction projects are underway, including the 9.3 MW Kjerringnes project, the group’s largest hydropower plant to date. In Switzerland, agreements have been signed for aventron’s participation in the construction of the future Palanggenbach power plant (2.8 MW) in the canton of Uri. By the end of 2020, the aventron Group is expected to expand its hydropower portfolio in these countries to around 120 MW, thereby achieving a better balanced representation of each of the renewable resources water, wind and sun in the portfolio.

In France, the aventron group sold its minority stake in UNITe, a French family-owned company, specialized in renewable energies, to focus on the management of majority owned generation assets. To this end, an operating team expert in hydropower generation has been set up in France to manage the operation of the fleet and to support the development and acquisition of new plants. The objective is to optimize the performance of the portfolio while strengthening internal skills.

aventron signs EPC contracts with Solarpack for 2 x 50 MW subvention-free solar powerplants in Spain

construction under turn-key EPC contracts for two 50 MW solar photovoltaic plants in Spain to start already in the first half of 2019.

At the beginning of December, aventron signed general contractor agreements for the turnkey construction of two photovoltaic power plants in Spain with a capacity of 50 MW each. The contract partner is Solarpack Corporacion Tecnologica SA, an international independent solar PV power producer based in Spain dedicated to the development, construction and operation of solar PV projects. Both projects have already passed the required environmental impact assessments and the final building permits are expected at the beginning of 2019. The development partner is the Spanish company Synergia Energy Solutions SL.

The two ground-mounted systems in the Toledo and Murcia regions are among the first major solar projects in Europe to be implemented and operated without subsidies or other direct government support instruments. Each individual park will cover an area of around 90 hectares and is expected to generate around 95 million kilowatt hours of electricity per year. The total amount of energy generated thus corresponds to the annual requirements of a city with around 55,000 inhabitants.

aventron is currently in advanced negotiations of the power purchase agreements for the energy generated in the projects and is structuring the necessary external financing on this basis. Financial close and start of construction is expected in the second quarter of 2019.

The two solar park projects Bargas and Algibicos are a milestone in the implementation of aventron’s growth strategy. On the one hand, aventron exceeds the short-term target of 500 MW for portfolio expansion earlier than planned and on the other hand, its solar production segment will be substantially strengthened. aventron’s next step is to achieve an installed capacity of 600 MW in its core areas of wind, water and sun by the end of 2020.