Tion Accelerates Energy Transition with Mega Deal – Solar Projects Worth €81 Million Acquired from EDP Renováveis

Munich, Germany – Munich-based Tion Renewables GmbH has completed the largest acquisition in its corporate history with the purchase of a Spanish solar portfolio totaling 104 megawatts. According to the company, Tion is acquiring the assets from Portuguese energy group EDP Renováveis S.A. (EDPR).

With this deal, Tion reinforces its strategic focus on the Southern European market and moves closer to its corporate goal of operating a portfolio with a total installed capacity of three gigawatts (3,000 MW) by 2030.

Spain: Second Transaction Within Six Months

This latest acquisition significantly strengthens Tion’s position in the Spanish solar market. Back in January 2025, the company acquired a 50 MW portfolio from project developer X-Elio and introduced its market entry strategy. The new acquisition marks not only the second investment in Spain within six months, but also underlines the consistent implementation of a scalable growth strategy.

The portfolio acquired from EDPR has an enterprise value of approximately €81 million and includes four operational solar projects. One solar park is located in Aragon and has been operational for about two years; three others are in Andalusia and have been producing electricity since November 2024. All four solar projects are backed by 15-year power purchase agreements (PPAs), ensuring long-term revenue certainty for Tion.

Gonzalo Gutiérrez-Alviz Velasco, Tion Renewables’ Investment Director for Spain and Italy, commented: “I am delighted to have led this landmark transaction, which demonstrates our ability to achieve our ambitious growth targets in Southern Europe and in general. Moreover, our recently acquired projects in Spain do offer significant optimization potential by complementing solar PV with co-located battery energy storage systems, another key technology for the energy transition.”

Scaling with Purpose – Milestone on the Path to ‘3 by 30’

Tion is pursuing the goal of operating a three-gigawatt (3,000 MW) portfolio by 2030 – composed of photovoltaic, onshore wind, and battery storage projects. Currently, the company’s portfolio in its four core markets – Spain, Italy, Germany, and Poland – totals around 350 megawatts.

With the latest transaction, Tion not only increases the share of Spanish generation capacity in its overall portfolio but also enhances revenue stability through long-term power purchase agreements (PPAs).

About Tion Renewables – Backed by Private Equity Firm EQT

Since its acquisition by Swedish private equity firm EQT in 2024, Tion has benefited from greater access to capital, industrial expertise, and a network of sector specialists. Recent transactions illustrate how the company is leveraging these resources to strategically invest in European growth markets.

Tion Renewables was listed on the stock exchange in 2019 and has operated as part of the EQT Group since its delisting in 2024. Tion is also a major shareholder in independent power producer Clearvise AG. The company further benefits from EQT’s deep experience in renewable energy, access to its global network of over 600 industry advisors, and in-house expertise in areas such as energy marketing, sustainability, and digitalization.

Source: IWR Online, 24 Jun 2025