New Sparta Iberia S.L. (“NSI”), a subsidiary of New Sparta Asset Management Ltd., signed its first asset management agreement for a solar PV plant in Extremadura, Spain. NSI secured the technical and commercial management of the asset for an extended number of years.
The PV plant has an installed capacity of 12.6MWp, composed of 360 double-axis trackers and extending over 90 hectares. The PV plant was first commissioned in 2008 and is regulated by the Spanish royal decree RD 413/2014 which grants the asset a subsidy according to a fixed reasonable return.
Ivo Arnús MD of New Sparta AM said: “We are very happy with the signature of this first contract. It confirms we are moving in the right direction since we restructured the firm in 2019. We want New Sparta to be a partner of choice in Europe’s leading initiative to become a net-zero economy by 2050.