Canadian power producer Northland Power is to acquire a 540-megawatt wind and solar portfolio in Spain, marking its entry into the Iberian state. The company said on Wednesday it had reached a final agreement with seller Helia Renovables FCR, which is sponsored by Madrid-based Platinum Partners Asset Management SGEIC SA and Spanish bank Bankinter SA.

Financial arrangements between the two parties include Northland Power paying 345 million euros ($413.4 million) in cash at the time of delivery and assuming a total of 716 million euros in non-recourse fixed-rate debt.
Acquisitions are subject to customary conditions of delivery and foreign investment approval by Spanish regulators. Northland said it expects to close the deal in the third quarter of 2021.

Ningbo Raytech New Energy Materials Co., Ltd. specializes in Double Glass and Bifacial PV Modules Manufacturing. The company has independent product R&D teams, national key laboratory and 1.2GW full-automatic manufacturing line. Raytech Double-glass modules come with 12-year product warranty and 30-year performance warranty (2 years and 5 years longer than industry's standard product / performance warranty respectively).