What does Powertis do?
Powertis is the business line for photovoltaic project development. It is a fundamental part of the Group’s strategy and offers comprehensive solutions to investors including the development, structuring and obtaining of energy sales contracts (or PPAs), financing, construction and operation of photovoltaic parks. Powertis has focused on greenfield projects, although opportunistic and occasionally also buys projects developed by third parties. In addition, these projects are developed considering Soltec’s solar trackers and, once they have reached the time of implementation, are built by Soltec.
Where is Powertis present?
Powertis currently operates in three countries, in Spain, Italy and Brazil.
How much does Powertis’ project portfolio amount to?
Powertis has a projects’ portfolio amounting to 5 GW at the end of FY 2020 and the company’s operating indicators reflect record figures. Within this portfolio, the backlog represents 717 MW while the pipeline amounts to 4.2 GW. Throughout the year, the company has managed to strengthen its position in the Brazilian market by closing a financing agreement for two plants with a capacity of 225 MW and selling a 618 MW project. In addition, Powertis has managed to close joint-development agreements with TOTAL Solar Ibérica for the development of up to 1 GW of projects in Spain and 750 MW in Italy with AQUILA CAPITAL.
What is asset rotation?
Asset rotation is the sale of total or partial shares
What is RTB?
RTB or “Ready to Build” indicates when a project is ready to build. Powertis’ asset rotation strategy in weak currency countries is to divest projects in
What is COD?
COD (Commercial Operation Date) is the date a project is fully operational and can start selling energy. Powertis’ asset rotation strategy in hard currency countries is to divest projects in COD (or COD+24 months maximum).
How much has Powertis rotated in 2020?
Powertis has rotated totally or partially 1.2 GW in 2020. 625 MW in Brazil (Leo Silveira), 373 MW in Spain (Total) and 249 MW in Italy (Aquila).
How much does Powertis expect to rotate in 2021?
An asset rotation of 1.0 GW is expected in Powertis in 2021.
Includes the sale of all projects; totally or partially, or the sale of any remaining shares in the projects.
What does the Total agreement entail?
Powertis signed an agreement with Total in February 2020 for the joint development of 1GW of photovoltaic projects in Spain.
What does the Aquila agreement entail?
Powertis signed a joint development agreement with Aquila Capital in Italy targeting up to 750 MW. Aquila can purchase Powertis’s projects once they have secured land & interconnection rights Powertis continues as developer until projects reach “ready-to-build” status. Soltec Industrial has certain rights to supply the trackers and secures construction of the projects as EPC provider. In December 2020 Powertis formalized the transfer of 51% of 10 SPVs to Aquila Capital (249 MW). In December 2020 Powertis formalized the transfer of 51% of 10 SPVs to Aquila Capital (249 MW). Development Cost is borne by Aquila (51%) and Powertis(49%) from milestone 1 above.
What markets does Pwertis target?
One of Powertis’ goals for 2021 is entry into new markets: United States and Colombia.
What is the cost of development in Spain? And in Brazil?
Average cost: 15K/MW for projects in Spain and Italy
Average cost: BRL 80k/MW for projects in Brazil
What does this cost include?
Includes pure greenfield project development and initial-stage project acquisition.