Cero Generation becomes sole owner of Nara Solar
European solar and storage developer Cero Generation has become the sole owner of Madrid-headquartered Nara Solar.
Nara Solar was launched in 2019 as a 50-50 joint venture between Cero and Univergy Solar (Univergy). Cero has now taken full ownership of Nara Solar, purchasing Univergy’s 50 per cent shareholding in the company to bring it under direct control within the Cero portfolio.
Nara Solar’s portfolio includes 1GW of solar in development and an early-stage pipeline of more than 1GW, spanning Spain, France and The Netherlands.
Marta Martinez Queimadelos, CEO of Cero Generation, said: “We are delighted to welcome Nara Solar fully into Cero, having worked with the brilliant team at Univergy to create this thriving platform, and seeing it go from strength to strength since its launch in 2019. This transaction is an important achievement for Cero, reflecting our prominent role in the European renewables market, and it enables us to continue to grow our sizeable pipeline and portfolio.”