The renewable energy producer Velto Renewables, a subsidiary of the Canadian investment group Caisse de Dépôt et Placement du Québec (CDPQ), has signed a partnership agreement with the Spanish company Kenergy to develop one gigawatt of solar photovoltaic projects in Spain.

Kenergy is a renewable energy project developer that is active in Europe and Latin America. Under the terms of the agreement, it will work with Velto to develop a portfolio of projects that are currently in the early stages of development. Thanks to the new partnership, these projects will incorporate best practices and solutions to optimise their environmental, social and technological characteristics, according to Velto Renewables.

Consolidation as a European producer
The partnership between Velto Renewables and Kenergy will also allow them to leverage the best of both companies' experience and expertise in development, finance, technology and operations. Meanwhile, the Canadian company is taking an important step towards consolidating its position as an independent European energy producer. As a project manager, it has been involved in projects over the past few years ranging from solar energy in Spain, where it currently owns 76 assets, to offshore wind in the United Kingdom.

Kenergy, which specialises primarily in the promotion and development of solar energy projects, was founded in 2013 and has contributed to projects with a total installed capacity of more than 2.8 gigawatts. Its markets include Spain and Mexico.

Optimisation strategies
Commenting on the agreement, Velto Renewables CEO Lucas de Haro said, “We are starting the development of new projects in Spain, while continuing to implement various optimisation strategies in our operating assets. This is an important milestone in the growth of our portfolio and our contribution to the energy transition in Europe for the benefit of local communities and various stakeholders.”

Meanwhile, Kenergy’s Managing Partner, Gabriel Aguirrezábal, added, “For a company like ours, it is strategic to have a partner whose consistency, experience and long-term commitment allow us to create assets of great value for society, the environment and our shareholders.”

^{Photo: Velto Renewables}