Velto enters partnership with Kenergy to develop 1 GW of solar PV projects in Spain

Velto Renewables, an independent renewable energy producer, today announced a partnership with Kenergy, a Spanish developer with activities in Europe and Latin America, to ensure the growth of a pipeline of 1 GW of photovoltaic solar power projects in Spain.

Under this agreement, the two companies will work together on co-developing solar power projects currently in their early stage, incorporating best practices and solutions to optimize their environmental, social, and technological features. This co-development partnership will enable the two groups to harness their significant development, financial, technical, and operational expertise and to accelerate the energy transition in Spain.

With this partnership, Velto Renewables is evolving toward its consolidation as a European independent power producer. In the past few years, its management activities have spanned from solar in Spain to offshore wind in the United Kingdom. 

“We are now starting to develop new projects in Spain, while continuing to implement various strategies to optimize the performance of our operating assets. This is a significant milestone as we work to grow our portfolio, Velto is already a proud player of the European energy transition and wants to continue growing its positive impact in benefit of the overall community and stakeholders” said Lucas de Haro, Managing Director of Velto Renewables.

 

“For a company like us, it is very exciting and motivating to have a partner whose leverage, experience and long-term commitment allow us to create assets of great value for the society, the environment and its shareholders”, commented Gabriel Aguirrezábal, Managing Partner of Kenergy.

ABOUT VELTO RENEWABLES

Velto Renewables is a developer, investor, investment manager and long-term owner of renewable energy projects. Established in 2020, the company is a subsidiary of CDPQ, a global investment group. Velto Renewables is committed to contributing to the decarbonization of the global economy by investing in and developing an international and multi-technology portfolio of renewable energy projects. We currently own and manage 76 solar PV assets in Spain, manage offshore wind activities, and are seeking to grow our portfolio by becoming a local player in the countries and regions where we invest.

ABOUT KENERGY

Kenergy is a company dedicated to the promotion and development of renewable energy projects, mainly focused on photovoltaic solar energy. Kenergy, founded in 2013, is firmly committed to the energy transition and the creation of value in the regions where it develops its projects. With experience in different markets, including Spain and Mexico, it has been involved in the development of more than 2,8GW of installed power.