Shell New Energies Holding Europe BV (Shell) announced it has acquired Green Tie Capital’s (GTC) platform of ten medium mature solar energy projects across Spain, with potential for two gigawatts of solar power generation capacity.

Óscar Fernández, Shell Spain country chairman: “Shell’s Group strategy is to be a leading player in the energy transition, in the markets in which it operates. With this acquisition we seek not only to increase the portfolio of renewable energy generation assets in the short term, but establish the capability to grow our renewable business in Spain further.”

“We are very happy to complete this important transaction, and hand over the stewardship to Shell,” Alvaro Garcia Borbolla CEO of GTC, said, “We will continue investing in opportunities based on technology and the environment to add value to our society.” 

Spain is one of Europe’s biggest solar power markets, and solar is the fastest growing and lowest cost renewable electricity source available today.