With Iberdrola planning to invest € 420 million to construct 750 MW Capacity PV Plants in Spain, the utility company expects its renewable capacity will be doubled to 5,500 MW. (Photo Credit: Iberdrola)
- Iberdrola gets approval to develop 750 MW of new photovoltaic capacity in Extremadura region of Spain
- The total investment of the project will be € 420 million ($501.60 million)
- The new projects that will be constructed are the 380 MW Tagus plant and the 375 MW Cedillo plant
- Iberdrola intends to develop more than 2,600 MW of photovoltaic energy by 2023, with an investment of €2 billion ($2.39 billion)
- With the new projects, Extremadura's renewable capacity is expected to be doubled to 5,500 MW
Announcing its commitment to continue investments in Spain’s Extremadura region, power company Iberdrola revealed that it has got the approval to develop 750 MW of new photovoltaic capacity in the province of Cáceres. The total investment will be € 420 million ($501.60 million).
The plants that will be constructed under this new initiative are:
- The Tagus photovoltaic plant of 380 MW, which will be located in the municipality of Alcántara. This plant will have more than 930,000 panels and 226 inverters on a fixed structure, and is expected to get commissioned between the end of 2022 and the beginning of 2023
- The Cedillo PV plant, which is located between Alcántara and Herrera de Alcántara, and will have an installed capacity of 375 MW, with 925,680 panels and 180 fixed structure inverters. This plant is expected to be operational in 2022.
Extremadura has always been at the centre of Iberdrola’s renewable strategy in Spain, where the utility company intends to develop more than 2,600 MW of PV capacity by 2023, with an investment of €2 billion ($2.39 billion). Last year, the energy company had announced its plans to invest €75 billion ($89.57 billion) in Spain through 2025 to ensure sustainable economic growth (see Iberdrola Aims For 16 GW Solar Capacity By 2025).
The construction of these two new photovoltaic projects is expected to generate about 1700 jobs, which will again contribute to economic recovery of the region. Iberdrola currently has more than 2,900 MW installed in Extremadura, making it the second autonomous region with the most ‘green’ megawatts installed by the company. Now with these new projects, Extremadura’s renewable capacity will be doubled to 5,500 MW.