Spain's Iberdrola Seeks to Build Europe's Largest Solar Farm

The Spanish utility has started the process with the country’s Ecological Transition ministry to build a 590-megawatt farm in the Western region of Extremadura, according to a statement Thursday. The company will now follow government rules to hold public hearings and collect comments on the impact on the environment and for landowners, a mandatory process before starting the project.

The new facility, called Pizarro, will house about 1.7 million solar panels spread over 1,300 hectares, according to Julio Castro, head of Iberdrola’s Spanish renewable energy business. Power from the panels will feed into the grid through a line that to date has been used by the Almaraz nuclear plant.«Мы будем финансировать проект с помощью собственного баланса, хотя всегда есть вероятность, что в будущем мы сможем воспользоваться проектным займом», - сказал Кастро. Он отказался комментировать норму прибыли от инвестиций.

Iberdrola, the world’s first major utility to embrace renewable energy more than a decade ago, has another seven solar projects either under construction or awaiting government approval in Spain, with a combined capacity of 1.178 megawatts. It has solar farms in Mexico and the U.S.

Spain’s renewable energy market has being booming over the last couple years, through a combination of large auctions and a green-energy friendly Socialist government. The country is Europe’s hottest renewables market and is set to deliver 7 gigawatts of solar and wind this year, according to estimates from BloombergNEF.

Source: www.bloomberg.com

Tags: renewable energy, NPP, solar energy, wind energy, electricity, EU

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