Fotowatio, one of Spain's largest independent solar power producers, has agreed to purchase core US solar power assets, including the largest US solar photovoltaic installation, at Nellis Air Force base, from San Francisco-based, MMA Renewable Venture.

Upon completion of the sale, Fotowatio's US business will be one of the largest solar development companies in the US measured by megawatts in operation. It will own 35 megawatts of solar projects in operation and more than 400 megawatts in development.

In addition to the 14 megawatt project at Nellis Air Force base in Nevada, the portfolio will include the nation's most visible solar array, at Denver International Airport; the world's largest thin film solar installation using CIGS technology, in Arizona; solar panels on the roofs of Colorado parking garages and solar arrays powering a California rice farm.

'This acquisition will significantly expand Fotowatio's portfolio, allowing us to meet our aggressive growth targets earlier than anticipated,' said Rafael Benjumea, CEO of Fotowatio. 'With the addition of MMA's assets and talented development team, we will be poised to expand in fast-growing markets in the US, Spain and Italy.'

Fotowatio has invested more than $880 million (£627 million) in solar projects since 2006 and plans to invest up to $3.2 billion (£2 billion) by 2012 in Spain, Italy and the US. Following completion of the acquisition of MMA Renewable Ventures, Fotowatio's global portfolio will include more than 130 megawatts of operating solar projects in the US and Spain and more than 1,000 megawatts under development across the US, Spain and Italy. With no fuel cost or emissions, Fotowatio's expanded portfolio will produce clean energy and avoid more than two million tons of greenhouse gas emissions per year compared to conventional fossil fuel technology.