First Solar Inc. has revealed the sale of its 9.9 megawatt solar plant near Zamora, Spain to a renewable energy-focused fund, European Solar Power Fund which is for institutional investors and is managed by KGAL.

Klaus Wolf, Managing Director of KGAL, said, “We are very glad about the successful acquisition of this exceptional solar farm in Spain and the opportunity to collaborate with highly professional partners like First Solar and Gehrlicher”. He also said that after the new deal, the total capacity of solar farms owned and operated by KGAL's investment funds surpasses 200 MW.

The plant is located about 250 kilometers northwest of Madrid, which is one of the sunniest areas in Europe and receives around 1,700 kWh/m2 of sunlight a year.

At present, the plant is under construction and is being developed by Gehrlicher Solar España. The construction of the plant is expected to complete in December. The plant is spread in 37.6 hectares of land and will produce an estimated 15,000 megawatt hours of solar power.

According to First Solar, as many as 3,400 Spanish homes can be powered annually with the energy produced by the plant.