Iberdrola and Norges Bank to expand renewables in Iberia

In January, both companies stated that they were negotiating exclusively to double the size of their previously announced partnership of nearly 1300 MW. A total of 674 MW was added initially, with the extra 644 MW now fully agreed. These additional projects will all be solar photovoltaics (PV) in Spain, located in Extremadura (328 MW, already in operation) and Castilla y León (316 MW). Both projects have power purchase agreements (PPAs) in place for part of their production.

Both companies are increasing their commitment to accelerate decarbonisation in the Iberian Peninsula, and the alliance could be expanded in the future to other countries. Iberdrola will have a majority stake of 51% in the assets.

This renewable portfolio will have the capacity to supply energy to more than 400 000 homes each year, which will mean more than 350 000 tpy of carbon dioxide avoided.

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Read the article online at: https://www.energyglobal.com/other-renewables/25042024/iberdrola-and-norges-bank-to-expand-renewables-in-iberia/?yptr=yahoo