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:
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.