The British company Welink Energy Portugal 2 UK Limited, which controls the largest operational solar power plant in Portugal, has entered insolvency.
The Alcoutim plant in the Algarve has a capacity of 220 megawatts (MW) and has been operational since 2021; however, lower-than-expected output and a drop in wholesale electricity prices in the Iberian market have reduced the project’s revenues.
According to a BDO report cited by the weekly newspaper Expresso, the process now focuses on improving the plant’s performance and preparing the asset for sale to new investors.
Management has been transferred from Welink Investments to Exus, which—together with Enertis—will assess the investment required to boost production. Investec and…