Northland Power has closed an agreement to enter the booming Spanish renewables market with a splash, by buying a 540MW portfolio of already operating wind and solar power plants.

The Canadian utility utility will pay €345m ($413m) in cash to unnamed sellers, and assume another €716m in debt, upon closing of the acquisition of 33 operating assets – 424MW in onshore wind farms, 66MW in solar PV, and 50MW in concentrated solar power (CSP).