This week, a 391 MW PV power plant in Spain was started, and Iberdrola further consolidated its plans to add a Giva-level renewable energy project to Spain in a few years.
In the Extremadura alone, the utility company plans to add 2 GW of solar and wind power projects. The company's Nuñez de Balboa project in Usagre (Badajoz) has started installing the first component.
Kutxabank, Euskaltel and Uvesco purchased electricity from the Nuñez de Balboa project through a power purchase agreement.
This project is known as the largest photovoltaic project in Europe to date and the most important project in Iberdrola, with an investment of approximately 300 million Euros. The project covers an area of 1,000 hectares and has installed more than 1.4 million PV modules. The maximum installed capacity is 391MW.
The Nuñez de Balboa project is scheduled to be commissioned in September 2020, and the project will generate enough electricity to meet the needs of 250,000 people. Power generation will be delivered to the adjacent 400kV Bienvenida substation, which will then be purchased by Kutxabank, Euskaltel and Uvesco Food Distribution through a power purchase agreement.
At the launching ceremony this week, Iberdrola President Ignacio Galán said, “This large renewable energy project is a pioneer project that will strengthen the leadership of Extremadura, Spain and the EU in transitioning to more sustainable energy systems. Status.” The ceremony was attended by Guillermo Fernández Vara, Chairman of the Extremadura region.
According to information released by Iberdrola in February, the company plans to put into operation 10GW renewable energy projects in 2030. The company's planned 2022 Extremadura area project is only part of this ambitious plan. In addition to the Nuñez de Balboa project, other power stations in the region, including the 328MW Ceclavín power station and the 150MW Arenales power station, also contribute to this milestone.
In the Spanish PV industry, Iberdrola is the latest company to embark on a road to power purchase agreements. Spain is gradually adopting a zero subsidy program. Investors Smartenergy and Aquila and developer BayWa r.e. are several companies that have recently taken a place in the Iberian market.