SÓLIDA, Technical Advisor in Innovo Renewables’ Debut in Spain

Innovo ventures into the Spanish photovoltaic market with SÓLIDA as an independent technical advisor

SÓLIDA, a renowned Spanish engineering and renewable energy consulting firm, has played a crucial role in the debut of the Italian company Innovo Renewables in the Spanish market.

Innovo has successfully acquired a portfolio of photovoltaic projects in Spain in early stages of development, with a total capacity of 305 MW, a significant advancement for the company’s expansion strategy in which SÓLIDA acted as Technical Advisor for the operation.

The four photovoltaic plants, strategically located in areas of high solar radiation such as Andalusia, Murcia, and Alicante, promise not only substantial energy production but also potential for the implementation of advanced energy storage systems The scale of the projects, their proximity to existing substations, as well as their location in areas without cultural and environmental constrains were key elements for the portfolio selection.

The favorable report from SÓLIDA, following a thorough technical Due Diligence, was crucial in the Italian promoter’s decision to proceed with the operation.

This acquisition not only marks Innovo Renewables’ successful entry into Spain but also signals the beginning of a closer strategic alliance between the energy company and SÓLIDA, who, following this project, signed a Framework Agreement laying the groundwork for future technical advisory work in upcoming transactions.

Alejandro Flores, Director of Development at Innovo Renewables in Spain, expressed enthusiasm about the acquisition, stating:

“Entering the Spanish market is a strategic move for Innovo Renewables, and SÓLIDA’s prior Technical Audit played a key role in validating the projects’ feasibility. This expansion aligns with our long-term vision, especially in such a dynamic and promising market like Spain”.