By Giulia Petroni

Total SA said Tuesday that its wholly-owned affiliate Total Solar International would develop nearly two gigawatts of solar projects in Spain.

The French oil-and-gas company said its subsidiary established a joint-venture with local developer of utility-scale solar plants Powertis SA to develop solar photovoltaic panels in the country. Powertis would bring a pipeline of 800 megawatts of early stage projects to the venture, it said.

Total Solar International also acquired a 1.2-gigawatt portfolio of projects developed by Solarbay Renewable Energy SL, located in the regions of Andalusia, Aragon and Castile-La Mancha.

The first project is set to begin operations by the end of the year, with both portfolios expected to be in service by 2023, Total said. The company said it will pay success fees to Solarbay and Powertis during the projects' development.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 11, 2020 04:44 ET (09:44 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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