Competition gives 'green light' to the purchase of six solar parks in Lisbon by Finerge

The purchase by the renewable energy producer Finerge of six solar parks in Lisbon, with 17,8 megawatts (MW) of installed capacity, from Luxbon Solar, received a 'green light' from the Competition Authority (AdC), according to a published notice.

Chairman of the Board of Directors of Autoridade da Concorrência, Margarida Matos Rosa

The Board of Directors of AdC, on Tuesday, decided to adopt a decision not to oppose the merger, considering that it is not likely to create significant barriers to effective competition in the national market.

At the beginning of the month, the renewable energy producer had notified the regulator of the purchase of exclusive control of the Portuguese company Rose-HS1, exclusively owned and controlled by Luxbon Solar and whose main activity is to evaluate and develop infrastructures, services, projects and studies, namely renewable energies.

The deal - according to the Finerge group in a statement a week before notification to the AdC - represents an increase of 47% in the installed solar energy capacity of Finerge, which owns six photovoltaic plants in Spain, diversifying the portfolio, where wind power predominates .

The purchase from Luxbon Solar came after, in April, the Finerge group notified AdC of its entry into the solar energy business in Portugal, through the purchase of four photovoltaic plants from Glenmont Partners, a management company, based in the United Kingdom , specialized in renewable energy generation assets.

Finerge currently has 46 wind farms and 10 solar farms in Portugal, as well as an installed capacity of 47,6 MW.

Founded in 1996, the company has 659 wind turbines installed in the 53 wind farms it operates and in the 16 solar and photovoltaic plants in the Iberian Peninsula.

In total, the company has an installed capacity of 1.339 MW, producing about 3.200 gigawatts per hour (GWh) per year, and employs, directly and indirectly, approximately 200 workers.

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