Iberdrola and Norges Bank Investment Management, Norway’s wealth fund, have formed an alliance for investments in 1,265MW of new renewables projects in Spain. About 20% of the projects will be wind farms, while 80% will consist of photovoltaic (PV) plants.
In total, the installation of this additional capacity will require €1.2bn. Iberdrola holds a 51% stake in the assets which it will operate and maintain.
A portion of 137MW of the total 1,265MW has already started operations in Castilla-La Mancha and Aragón. Development for the remaining capacity is ongoing throughout Spain, including in Andalusia, Extremadura, and Castilla y León.
After completion of the project pipeline, total power output will be enough to supply energy to over 700,000 homes annually.
For more information on renewables projects in Spain, please visit EICDataStream.