ib vogt has inaugurated the Segovia Cluster situated in the Segovia region of Spain. The Segovia Cluster consists of four utility-scale photovoltaic plants with a total capacity of 513.1 MWp. The plants are the Serbal solar plant with a capacity of 174 MWp, the Castaño solar plant with a capacity of 134 MWp, the Pato solar plant with a capacity of 110 MWp, and the Baobab solar plant with a capacity of 95.1 MWp.
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Sonnedix has inked a power purchase agreement (PPA) with Renfe for the purchase of 420 GWh of renewable energy per year to power its commercial operations. The solar installations used in this financial PPA will generate annual energy, which will be enough to power 112,000 homes. The PPA will meet a substantial amount of Renfe’s total predicted energy needs. The PPA was inked following the inauguration of Sonnedix’s 150 MW Covatillas 1, 5, and 6 portfolio.
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RIC Energy and Siemens have inked a memorandum of understanding (MoU) to develop projects in the field of renewable hydrogen, green ammonia, and e-fuels in Spain. The collaboration of the two companies will boost the sustainable aviation fuel (e-SAF) plant. The plant is being promoted by RIC in Cubillos del Sil (León) and is known as the Compostilla Green project. The collaboration also extends to the Besaya project in Torrelavega, an initiative by RIC Energy.
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Iberdrola España has inked a long-term power purchase agreement (PPA) with Tubos Reunidos Group. Under this agreement, Iberdrola España will supply 120 GWh of renewable energy to the production centres of Tubos Reunidos Group in Álava and Vizcaya for a period of 10 years. The total of 120 GWh of renewable energy will be supplied over the term of the contract from approximately 10 MW of Iberdrola España’s solar photovoltaic portfolio.
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Elawan Energy has closed €76 million financing for 23 small hydropower plants in Spain with a combined installed capacity of 175 MW. The €76 million transaction has been structured as a non-recourse project finance deal. Natixis provided the financing and acted as the lead arranger and structuring agent. Furthermore, out of the total installed capacity of 175 MW, 134 MW comes from eight storage-based facilities that use dams or balancing reservoirs.
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The European Commission (EC) has approved a €400 million Spanish State aid scheme under EU State aid rules. This scheme will support the production of renewable hydrogen through the European Hydrogen Bank’s Auctions-as-a-Service tool. It will aid in the construction of up to 345 MW of installed electrolyser capacity and the production of up to 2,21,000 tonnes of renewable hydrogen in Spain.
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Masdar, through its subsidiary Saeta, has concluded an investment agreement for the Valle Solar project, which is situated in Spain’s Valencia region. The agreement is a further step in securing the construction of the plant, which is located in the municipalities of Ayora, Jarafuel, and Zarra. The solar project consists of a 234 MW photovoltaic plant, with the potential to add the hybridisation of battery energy storage systems of 259 MW.
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Masdar has inked an agreement to acquire 49.99 percent stake in four solar plants owned by Endesa in Spain. These solar assets have a total capacity of 446 MW. Masdar has invested €184 million for the stake in the assets, which have an enterprise value of €368 million. This agreement will strengthen Masdar’s position in EU and support Spain’s NECP targets and the EU’s Net Zero 2050 goal.
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Accelera will be supplying a 100 MW proton exchange membrane (PEM) electrolyser system for bp’s Lingen green hydrogen project in Germany. This project will utilise Accelera’s advanced HyLYZER® PEM electrolyzer technology. The hydrogen generation system that will power bp’s Lingen project will consist of 20 PEM HyLYZER®-1000 electrolyser units.Furthermore, the system is being manufactured at Accelera’s new electrolyser plant in Guadalajara, Spain.
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Amazon and Iberdrola have expanded their global renewable energy partnership by adding 476 MW of power purchase agreements (PPAs) across five countries. This includes Amazon’s first PPA in Portugal, securing 219 MW from the Tâmega wind complex which is set to begin construction in early 2025. The partnership also expanded in Spain with two utility-scale PPAs for a total of 257 MW of solar and wind energy.
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Repsol has invested in the Ecoplant which is a European project aimed at converting urban waste into renewable fuels and circular products. The project is located in Tarragona and is expected to receive an investment exceeding €800 million. This initiative will reduce carbon emissions in the transport sector while promoting the circular economy. It will produce renewable and circular methanol from waste using gasification. Enerkem will repurpose waste that would otherwise be sent to landfills or incinerated.
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The European Investment Bank (EIB) has signed a €120 million loan with Iberdrola to support the advancement of energy technology research and innovation, accelerating the electrification and decarbonisation of the economy. The total investment linked to these projects is valued at €250 million. This funding will be directed toward the development of renewable energy technologies, including solar photovoltaic, hydro, and wind power, as well as hybrid and agrovoltaic projects.
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Europe’s cumulative renewable capacity is forecast to increase 700 GW (78%), from 894 GW in 2023 to almost 1 600 GW by 2030. The majority (70%) of the expansion is concentrated in just seven countries, led by Germany, followed by the United Kingdom, Italy, Türkiye, France, Spain and the Netherlands. Solar PV makes up the largest share by far, at almost 70% of the region’s capacity growth during 2024-2030. Over the forecast period, 478 GW of solar PV is forecast to come online, more than three times onshore wind and eight times more than offshore. The European Union is on track to fulfill its 2030 ambitions for solar PV, but more effort is needed for wind
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Iberdrola and bp have approved the construction of a 25 MW green hydrogen plant at bp’s Castellón refinery. Moreover, this marks their first joint hydrogen project under Castellón Green Hydrogen S.L., a venture equally owned by both companies. The project is set to begin operations by mid-2026.
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The European Investment Bank (EIB) has granted a green loan worth €700 million to Iberdrola. The loan is granted to expand the electricity distribution network in Spain. EIB Director General for EU Operations and Iberdrola Chief Finance, Control and Corporate Development Officer inked the loan’s first €500 million tranche in Madrid.
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Encavis AG has inked two non-recourse project refinancing agreements for a total amount of €203 million for its operating solar plants Talayuela and La Cabrera in Spain. Both refinancing transactions have been structured, arranged, and managed by ENCAVIS’ inhouse Project Finance team.
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Iberdrola plans to add six BESS stations with a combined capacity of 150 MW to boost Spain’s energy storage capacity. The projects will be spread over Castilla y León, Extremadura, Castilla La Mancha, and Andalusia and will help integrate renewable energy into the national grid. Each of the six batteries will have a 50 MWh storage capacity and a 25 MW power output.
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The prognosis for Spain’s solar sector remains optimistic. So far, the ground-mounted segment has seen an installation of 4.5 GW in 2023. The French solar fleet reached 18 GW at the end of the first semester of 2023. The Greek solar PV market has gained tremendous momentum, which is expected to continue for the next few years.
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Repsol has started producing electricity at Sigma in Andalusia. It is made up of five solar plants with a total installed capacity of 204 MW. It is located in Jerez de la Frontera (Cádiz). The Arco 1, 2, 3, 4 and 5 make up the Sigma project with an investment of close to €150 million.
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Iberdrola has obtained environmental certification to construct the 86.4 MW HIDRO Cedillo hybrid hydroelectric-solar project in Spain. The hybrid plant, which would minimise its environmental impact while optimising grid use, will be situated in the municipality of Cedillo, in Extremadura. Over 160,000 photovoltaic modules will be included.
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