EiDF Solar, the Galician company listed again in Spain’s stock market after a brief suspension, reports a significant expansion move. The firm has formalized an agreement to acquire three photovoltaic solar power facilities in Burgos, totaling 238 MWp in capacity. These plants are expected to generate about 179,420 MWh annually, a level that corresponds to the electricity needs of roughly 109,670 homes. The deal marks a notable step in EiDF’s pipeline as it seeks to broaden its foothold in renewable energy projects across Spain.
The transaction includes the Garoña Alfacuarta project, a 100 MWp unit that already holds a positive Environmental Impact Statement and preliminary administrative clearances. Also included are the Barcina Garoña Vega I and Vega II projects, each with 69 MWp, which possess a valid environmental assessment and are awaiting the decision on preliminary administrative clearance. These projects fit into EiDF’s strategy of expanding through high-potential assets that can move swiftly through permitting and construction phases.
EiDF announced the operation without disclosing a price or payment method. The announcement followed scrutiny from audit firms that highlighted concerns about the company’s viability and raised questions about the integrity of certain documents. In addition to the Burgos acquisitions, EiDF has a pipeline of 357 MWp planned for 2023 and is currently developing 40 facilities. This growth plan reflects the company’s aim to build a diversified portfolio within the solar sector while maintaining a focus on operational efficiency.
With these acquisitions, EiDF Solar is strengthening the momentum of its project pipeline, bringing the total to nearly 2,600 MW. The move adds depth to the portfolio and underscores the company’s commitment to niche solar installations across regional markets, reinforcing its position in the national landscape of renewable energy development.
Despite recent volatility in EiDF’s share price, the stock rebounded to modest gains on Thursday, climbing 3.83% to approximately 3.9 euros. This rebound follows a period of declines that had pressured the market value of the company and amplified investor scrutiny as the firm pursues rapid expansion through project acquisitions and a tighter focus on smaller, less complex developments.
The leadership team has taken steps to reinforce confidence in the market. Notably, a board member and an advisor increased their stake as part of a broader effort to stabilize the company’s shareholding. Reports from the relevant market regulator detail these share purchases as a sign of insider confidence in EiDF’s long-term strategy and its ability to execute on planned projects while maintaining financial discipline.
The company emphasizes that its ongoing operations remain robust and that its strategic focus for 2022 and 2023 centers on building projects that typically stay under 10 MW each. This approach aims to minimize regulatory hurdles, shorten development timelines, and accelerate the integration of newly acquired assets into EiDF’s growing portfolio. EiDF’s current path places emphasis on sustainable, modular growth within a dynamic market for solar energy and a regulatory environment that supports practical, scalable solar deployments across regions.