Allianz Capital Partners on behalf of Allianz insurance companies has closed today the acquisition of the 46 megawatt (MW) Ourika project (“Ourika”) in Portugal. The solar farm is fully operational and has been developed by the WElink Group (“WElink”).
More than 50% of Portugal’s energy comes from wind, solar and hydro and it ranks sixth highest amongst EU nations. Ourika is located in Southern Portugal, around 170km south-east of Lisbon. This 46.1 MW project is capable of producing enough renewable electricity for approximately 23,000 average households of the region per year.
Ourika has entered into a 20 year fixed price power purchase agreement (PPA)