PLMJ advises Welink Energy on sale of Algarve PV plant

PLMJ advised Welink Energy on the sale of the photovoltaic solar power plant Solara4 to Allianz Renewable Energy Partners.

The power plant – which will be located in Alcoutim in the Algarve – is scheduled for completion later this year. It will have the capacity to supply electricity to around 23,000 households.

This project includes a 20-year agreement to purchase energy at a fixed price.

The PLMJ team was led by partner Diogo Perestrelo (pictured) and senior Guilherme Seabra Galante, and included managing associate Ana Oliveira Rocha.

Perestrelo said: “When completed, the Solara4 photovoltaic solar power plant will not need to be subsidised by consumers and it will allow us to use of one of our greatest energy assets, the sun. This project reinforces the position of Portugal on the radar of international investors wishing to leverage projects in the area of renewable energy.”