11.7 C
London
Tuesday, September 28, 2021

Iberdrola launches work on 500MW solar PV plant in Spain

Popular Articles

@WoRenewableshttps://worldofrenewables.com/author/worenewables/
Welcome to WoREA! You are in the right place to learn about all things renewable energy. We would like to take this opportunity to firstly wish you well, congratulate you for being here, but above all else, thank you personally for your interest in renewable energy - we like you! Please feel free to submit your content and/or reach out directly. We are always interested in learning more about our members and the markets in which you work.

The Spanish utility company, Iberdrola, has began work on a 500MW solar photovoltaic (PV) power plant.

The Núñez de Balboa plant is located in Badajoz, Spain, and mark’s the company’s first solar PV plant on the continent, CNBC reported.

A 1,000-hectare site will host the farm, which will feature 1.5mn panels. The project is expected to cost around €300mn (US$340mn) to develop.

“As costs have come down, and technology has matured, it is clear that solar is going to be a pivotal technology in the energy transition,” stated Ignacio Galan, Chairman of Iberdrola.

“Our extensive experience in developing renewable energy means that we are well-placed to integrate this technology into our global portfolio,” he added.

The project is anticipated to be fully operational by 2020, providing 250,000 people across Spain with power.

The company pledged to make €34bn ($38.6bn) in investments between 2018 and 2022, with almost 40% to be spent on renewables at €13.3bn ($15.1bn).

By 2022, Iberdrola aims to have installed 3GW of wind and solar capacity across Spain. The firm aims to have installed 10GW by 2030.

- Advertisement -

More articles

Latest articles

- Advertisement -