Plenitude, an Eni subsidiary which specialises in renewable energy, has agreed to pay an undisclosed price for a 100 per cent ownership in PLT, a company that develops and distributes renewable energy projects. PLT provides service to 90,000 retail customers in Italy and has a 1.6 GW renewable portfolio in Spain.
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Opdenergy, a Spanish renewable energy company, has received a 100 per cent favourable Environmental Impact Permit for 1.14 GW of capacity in Spain. Of the total capacity, 902 MW is currently in the construction phase while 244 MW is being prepared for construction.
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Plenitude, an Eni subsidiary with operations in Italy, has opened the El Monte wind farm in Spain. The 104.5MW wind farm, which is situated in Castilla La Mancha, has 19 GE wind turbines. The plant has the capacity to generate 300 GWh of renewable energy annually, which is sufficient to power 100,000 homes in the area.
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Iberdrola, a Spanish energy provider, has obtained approval for the development of a 375 MW solar photovoltaic (PV) project in Spain through an Environmental Impact Statement (EIS). The project, which is situated in the town of Cedillo in Cáceres, will be able to supply energy to 178,000 houses and reduce carbon emissions by around 77,000 tonnes annually.
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Iberdrola, a Spanish energy company, has started commissioning two solar power facilities in Extremadura, a part of western Spain bordering Portugal. The Majada Alta and San Antonio power plants are in Cedillo, Cáceres. The two solar photovoltaic (PV) plants will have a combined capacity of 100 MW, which is sufficient to power 45,000 households.
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In the region of Badajoz in Spain, the German energy provider RWE has started construction on a 10 MW ground-mounted solar power project. For the solar project in Las Vaguadas, the company has already started construction. Over the next few weeks, it plans to begin installing about 20,000 bifacial solar panels at the 21 ha site.
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EIDF Solar, a Spanish energy company, has announced the purchase of four solar projects in Spain with a combined capacity of 252 MWp. Two of the four projects, with a combined capacity of 102 MWp, are situated in Castilla La Mancha and are connected to the transmission grid. Reportedly, both projects are in the advanced processing stage and have already secured the necessary authorisations, licences, and land.
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Iberdrola, a Spanish energy company, has begun operations at the Francisco Pizarro solar photovoltaic (PV) plant in Extremadura, Spain. The 590MW solar project is situated between the municipalities of Torrecillas de la Tiesta and Aldeacentenera (Cáceres). Built with an investment of more than €300m, the Francisco Pizarro solar facility is equipped with approximately 1.5 million solar PV modules.
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Opdenergy, an independent renewable energy producer, has announced the signing of a financing agreement with BBVA and the European Investment Bank for the construction and commissioning of a solar PV portfolio in Spain totaling approximately 605 MW.
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The European Investment Bank (EIB) has granted a green loan of $562.49 million to Spanish energy company Iberdrola to fund domestic renewable energy projects. The loan amount is anticipated to be used to build wind farms and solar plants with a combined capacity of roughly 1,800 MW in Spain.
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Iberdrola, a global electric utility company, and PepsiCo, an American food and beverage corporation, inked a long-term power purchase agreement (PPA) under which Iberdrola will supply 590 MW of solar power to Pepsico’s facilities in Spain and Portugal. The agreement aims to develop a long-term operational structure that will aid both companies in their transition to renewable energy.
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Ørsted has finalised four partnerships to develop early-stage solar and onshore wind projects across Spain by participating in upcoming grid auctions. The company has signed partnerships with Glide Energy, Rolwind, ARBA Energías Renovables and Ereda. To support this strategy, Ørsted has established a team and an office in Madrid.
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RD-Law 6/2022 eliminated, for energy generated in 2023 and thereafter with the right to specific remuneration, the adjustment for deviations in the market price of electricity as compared to the forecasts taken into account for each three-year regulatory half-period (and each six-year regulatory period). This adjustment has now been reintroduced, again with changes to how it is regulated.
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Enel Green Power España (EGPE), a subsidiary of Endesa, has connected its 180 MW Tico Wind farm in Spain to the country’s energy grid. The Tico Wind project, which is in Villar de los Navarros, Zaragoza, entails a $193 million investment. It can generate 471 GWh of green electricity per year and displace 192,200 tonnes of carbon emissions a year.
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Verbund, an Austrian electricity provider, has announced the purchase of a renewable energy portfolio in Spain from various funds of the Q-Energy Group for an undisclosed sum. The vendor funds will be managed by Q-Energy Private Equity, a green energy investment fund manager.
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As countries seek to reduce their reliance on fossil fuel imports from Russia, the prospect for renewables has never looked brighter. While it is intermittent, the output from wind and solar projects is emissions-free and effective in improving a country’s energy security, particularly for those with strong natural resources such as sunny Spain or windy Britain.
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Ventient Energy, a UK-based renewable energy company, has completed the acquisition of a clean energy portfolio in Spain totalling 443 MW. Regulatory officials authorised the merger in April 2022 after it was first announced in December 2021. The portfolio includes 203 MW of onshore wind and 240 MW of solar capacity, and it is located in the Spanish province of Castilla y Leon.
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RD-Law 6/2022 orders an extraordinary review of the parameters for 2020-2022, applicable as of 1 January 2022. The parameters will be approved in 2 months. The mechanism to adjust for market price deviations for energy produced in 2023 and subsequent years is eliminated. The declared aim of these measures is to reduce the charges of the electric system and to supposedly thereby lower the final price of the energy.
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SSE Renewables, based in the UK, has signed an agreement with Siemens Gamesa Renewable Energy (SGRE) to acquire approximately 3.9 GW European renewable energy development platform for $627 million. Under the agreement, SSE Renewables will acquire SGRE’s 3.9 GW onshore wind portfolio across Spain, France, Greece, and Italy.
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Shell, a British oil and gas company has been preparing binding bids to acquire Q-renewable Energy’s energy assets in Spain, which are worth €1 billion in total. Reportedly, in addition to Shell, Naturgy and Austrian electricity provider Verbund are also preparing offers for the portfolio. Q-Energy, a Spanish fund manager, is selling the solar assets to take advantage of rising demand from European energy companies seeking to meet various government’s climate change goals.
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