Tion Renewables Group has completed a deal with EDP Renováveis (EDPR) to acquire a 104MW solar portfolio in Spain. The financial terms of the deal have not been disclosed.
The portfolio consists of four operational solar parks: one in Aragon, which has been running since mid-2022, and three in Andalusia, which became operational in November 2024. The projects are secured with 15-year power purchase agreements (PPAs).
The deal is subject to regulatory approvals and closing conditions.
Tion co-founder and chief information officer Christoph Strasser commented: “This transaction is a landmark for Tion, demonstrating our ability to execute large-scale deals while securing a high-quality portfolio of assets from a prime developer. A key feature of this portfolio is the 15-year PPAs. Long-term PPAs like these are rare to find in the Spanish market and perfectly fit our strategy to grow and diversify our contracted revenue base.”
Based in Munich, Germany, Tion Renewables is a renewable energy producer specialising in onshore wind farms, solar farms, and battery energy storage systems throughout Europe.
In November 2024, Tion Renewables signed a corporate power purchase agreement with Nobian, a European producer of salt, chemicals, and energy storage caverns. The agreement will supply green electricity from Tion’s German wind portfolio from 2026 to 2028, helping Nobian reduce its scope 2 emissions by 20,000 tCO₂ annually.