Navarra represents AIP’s first investment into the Spanish renewable energy market. Navarra is a portfolio of four onshore wind projects located in Northern Spain. Once complete, the projects will have a total nameplate capacity of 139MW via 24 x GE 5.8 wind turbines.
The project is 100% owned by Enerfín Sociedad de Energía, S.L.U (“Enerfín”), an experienced Spanish independent power producer who is also active globally. AIP will invest up to EUR 136m in the projects via its preferred instrument structure.
Enerfin’s parent company Elecnor is a leading player in the global development, construction, and operations of infrastructure and renewable projects. Elecnor will provide balance of plant services to the projects, and GE is the wind turbine supplier and provide O&M services for the wind turbines for 20 years thereafter. Enerfin has developed the projects and will provide asset management services during construction and operations.
All the projects are expected to reach commercial operations in the beginning of 2024.
The annual production across the projects is expected to be approximately 432 GWh per year, supplying electricity to the equivalent of around 110,300 Spanish households and avoiding the equivalent of 66,200 tonnes of carbon dioxide per annum.