Green Giraffe supported Akuo in the fundraising for their portfolio of Portuguese solar PV projects.
The portfolio benefits from feed-in tariffs which were awarded in the solar power auction of the Portuguese government in 2019, and had a total capacity of approximately 450 MWp. Project Santas was the first project to reach financial close in 2023 and has a total capacity of ca. 180 MWp. Construction of the project started in Q2 2023 by GenSun, Siemens Energy and Painhas, with first power to grid planned for Q1 2024. The second project that started construction is project Margalha, which has a capacity of 147 MWp, and is located in the Gavião area of Alentejo, a region renowned for its abundant sunshine.