– Iberdrola and Norway’s sovereign wealth fund have agreed to add an extra 644 MW of renewable energy in Spain to their Iberian clean energy alliance
– These additional projects will be solar photovoltaics in Extremadura and Castilla y León
– The renewable portfolio will have the capacity to supply energy to more than 400,000 homes each year, avoiding over 350,000 tons of carbon dioxide
Iberdrola and Norway’s sovereign wealth fund have expanded their Iberian clean energy alliance by adding an extra 644 MW of renewable energy in Spain. This brings the total under development to approximately 2500 MW. The additional projects will all be solar photovoltaics located in Extremadura and Castilla y León, with power purchase agreements in place for part of their production. The companies aim to accelerate decarbonisation in the Iberian Peninsula, with Iberdrola holding a majority stake of 51% in the assets. The renewable portfolio will have the capacity to supply energy to over 400,000 homes annually, avoiding more than 350,000 tons of carbon dioxide emissions.
The partnership between Iberdrola and the Norwegian sovereign wealth fund was initially announced with nearly 1300 MW, and negotiations in January led to doubling the size of this partnership. The focus is on clean energy development, and the alliance may be expanded to other countries in the future. The collaboration reflects a commitment to renewable energy growth and sustainability in the region. Additional information and technical articles can be found in the latest issue of Energy Global magazine, covering topics such as battery storage, renewables in Europe, electrical infrastructure, and more.