Total will develop 3.3 GW of solar projects in Spain with Ignis

Total has signed an agreement with the Spanish developer Ignis to develop 3.3 GW of solar projects located close to Madrid and Andalusia (Spain). The first projects in the Ignis portfolio are expected to start in 2022 and should be fully operational by 2025.

In February 2020, Total entered Spain’s solar industry with two agreements to develop nearly 2 GW of solar projects. The group, through its subsidiary Total Solar International, agreed to buy 100% of a portfolio of solar PV projects developed by Solarbay in Andalusia, Aragon and Castilla-La Mancha, with a combined capacity of 1.2 GW. In addition, Total Solar International intends to create a joint venture with Powertis (65% Total, 35% Powertis) to develop solar PV projects in Spain; Powertis will bring its pipeline of 800 MW portfolio of projects into the joint venture. All the projects acquired by Total are expected to be commissioned by 2023, with the first plant entering production by the end of 2020. In May 2020, Total acquired assets of Energías de Portugal (EDP) in Spain for €515m, including 2.5 million B2C customers and two gas-fired CCGT power plants, with a total capacity of 850 MW. The portfolio of around 2.5 million residential electricity (21 TWh) and gas (27 TWh) contracts comprises around 2.1 million held by EDP Commercializadora (100% EDP) and around 0.4 million by CHC, a joint venture between EDP and CIDE, the latter transaction being subject to CIDE agreement. The transaction is subject to conditions and regulatory approvals and is expected to close by end-2020.

The new acquisition will raise Total's portfolio in Spain to over 5 GW of solar projects under development and 850 MW of operational CCGT capacity.