photovoltaicsTordesillas solar farm

About the installation

Ideal location on the Spanish highlands 

Northwest of Madrid, at an altitude of 700 metres, is the Tordesillas photovoltaic park - one of the most powerful solar plants in the klimaVest portfolio. The location in central Spain offers optimal conditions: Up to 12 hours of sunshine daily in the summer months, minimal rainfall and the altitude ensure high electricity yields.¹

Long-term planning security 

A Power Purchase Agreement (PPA) with a ten-year term secures the purchase of electricity at calculable conditions. The internationally renowned project developer BayWa r.e. implemented the project. 

Technology with added value 

Intelligently aligned for higher yields: The solar modules in Tordesillas follow the course of the sun - similar to sunflowers. Thanks to single-axis tracking, they automatically tilt from east to west, providing the optimal angle to the sun throughout the day. This increases electricity yields by up to 25 percent compared to permanently installed systems. 

Spain’s solar market: Solid framework conditions 

Spain offers favourable conditions for solar energy. The country has an average of 2,500 to 3,000 hours of sunshine per year¹, which is significantly more than Germany or the UK.

Continuous expansion of photovoltaics

In 2025, solar energy generated the highest amount of electricity in its history², accounting for 21% of total electricity generation² - making solar the technology with the largest installed capacity in the country for the first time. The Spanish government plans to expand to 76 gigawatts of solar power by 2030. The aim is to 81% of electricity from renewable sources.³

Growing share of renewables  

In total, renewable energy produced around 56% of Spain’s electricity in 2025.⁴ In addition to photovoltaics, wind power (22%) and hydropower (11%) play important roles.⁵ 

Market conditions and investment opportunities

The Spanish electricity market is liberalised and integrated into the European single market.⁶ Prices on the spot market have become more volatile in recent years, with solar and wind power increasingly acting as price dampers.⁶ The government is promoting expansion through the REER tendering system (Régimen Económico de Energías Renovables). Power Purchase Agreements (PPAs) are also available. that offer investors long-term planning security.⁷ 

Strategic acquisition in international competition

The acquisition of Tordesillas was an important milestone for klimaVest. Innovative photovoltaic projects of this scale were in high demand among institutional investors in 2020, and competition for the plant was intense accordingly.

Commerz Real’s interdisciplinary team prevailed against international bidders. Decades of experience in the acquisition and management of open-plan solar systems, the expanded network of project developers and the reputation for reliability and professionalism in the industry were decisive factors.

Exceptional pace of closing

Only six weeks passed from the exclusive negotiation phase to the signing of the contract - an exceptionally short period for a transaction of this magnitude. The tight schedule required intensive teamwork: Technical appraisals, legal checks and profitability calculations had to take place in parallel so that Commerz Real could comprehensively evaluate the system and hedge the purchase price.