Spain’s Solaria to go land hunting for Repsol’s renewables

Spanish solar power producer Solaria Energia y Medio Ambiente SA (BME:SLR) has signed an agreement to act as a land acquisition agent for a Repsol SA (BME:REP) unit and find suitable sites for renewable energy projects.

Solaria said on Wednesday that its land acquisition vehicle Generia will seek out suitable plots, negotiate with the landowners and sign lease contracts on behalf of Repsol’s renewables unit, Repsol Renovables SA.

If a landowner prefers to sell the land, Generia will acquire the site and allow Repsol Renovables to use it under a right-of-use agreement.

Solaria did not say what geographical areas are covered by the agreement nor what kind of renewable energy projects the Spanish multi-energy group seeks to build on the acquired sites. Solaria set up the Generia landco in 2022 as a means to purchase land in Europe, while Repsol's renewables -- hydro, wind and solar -- are located in Spain, Italy and the Americas.

In June 2024, Solaria hired investment banks to develop a strategic plan for Generia and find new partners for the vehicle.

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