Hive Energy’s Sabinar solar project, located in Cuenca, Spain, has been acquired by Israel’s Noy Fund and green tech firm Nofar Energy.
The deal includes rights to both phases of Hive’s Sabinar project which will be constructed separately. The two phases, Sabinar 1 and 2, will deliver approximately 169MW and 83MW of renewable electricity respectively.
Construction of the project is expected in summer 2021, and once complete the project will cover an area of 452 hectares.
The purchase was made through Noy Fund’s and Nofar Energy’s joint venture Andromeda Solutions and includes the costs of construction.
Luis Martinez Hermida, general manager of Hive, said: “Completing the sale of Sabinar to Noy is a key milestone for Hive in Spain. We continue to grow ambitiously across our activities in the market, including the planned delivery of 1.5GW of large-scale solar projects and 1400MW of green hydrogen projects.”
Hive Energy continues to hold a significant presence in the Spanish solar market with a further pipeline of 1.5GW of solar projects planned.