Velto partners with Kenergy to develop 1GW of photovoltaic projects in Spain

Velto Renewables, the independent renewable energy producer, has partnered with Kenergy, a Spanish developer with activities in Europe and Latin America, to secure the growth of a 1 GW portfolio of solar PV projects in Spain.  

Under this agreement, the two companies will work together on the development of solar energy projects currently in their initial stages, incorporating best practices and solutions to optimise their environmental, social and technological features. 

This alliance will allow both groups to leverage their extensive development, financial, technical and operational experience and expertise, as well as to accelerate the energy transition in Spain.

With this transaction, Velto Renewables takes another step towards its consolidation as a European independent power producer (IPP). In recent years, its management activities have evolved from solar energy in Spain to offshore wind in the UK.

According to Lucas de Haro, Managing Director of Velto Renewables, “We are starting the development of new projects in Spain while continuing to implement various optimisation strategies in our operating assets. This is an important milestone in the growth of our portfolio and our contribution to the energy transition in Europe for the benefit of local communities and various stakeholders.”

“For a company like us, it is strategic to have a partner whose consistency, experience and long-term commitment allow us to create assets of great value for society, the environment and its shareholders,” said 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 the decarbonisation of the global economy by investing in and developing an international, multi-technology portfolio of renewable energy projects. It currently owns 76 solar PV assets in Spain, manages offshore wind activities and is working to expand its portfolio by becoming a local player in the countries and regions in which it invests. More information at www.veltorenewables.com

About Kenergy

Kenergy is a company dedicated to the promotion and development of renewable energy projects, mainly focused on photovoltaic solar energy. Founded in 2013, it is firmly committed to the energy transition and to the creation of value in the regions where it develops its projects. With experience in various markets, including Spain and Mexico, it has participated in the development of more than 2.8 GW of installed capacity. More information at www.kenergy.nl