Equinor, a Norwegian energy company, has signed an agreement with Naturgy, a Spanish energy company, to compete in Spain’s upcoming offshore wind auction. The country’s first offshore wind auction is slated to take place in 2023 off the coast of the Canary Islands. Its mission is to support the Spanish government in attaining its target of installing up to 3 GW of offshore wind capacity by 2030.
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The Ingka Group, based in Sweden has announced its acquisition of nine solar power park projects in Germany and Spain for €340 million. Notably, Ingka Group owns the majority of IKEA stores worldwide. The solar installations have a combined capacity of 440 MW. The portfolio was purchased by the Ingka Group solar from ENERPARC, a solar power developer.
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The Renewables Infrastructure Group (TRIG), a UK-based energy investment group, has purchased a 49 per cent stake in Repsol Renovables’ Project Valdesolar, a 264 MW solar power park in Spain. Repsol will own the remaining 51 per cent of the Valdesolar project, which it developed and constructed. The deal’s financial terms have yet to be revealed.
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As part of its energy transition strategy, Cepsa, a Spanish oil and gas company, expects to invest between $7.8 billion and $8.9 billion in Spain and Portugal by 2030. From next year, the corporation will devote more than 60 per cent of its investment to sustainable businesses. Cepsa has stated that it intends to build a 7 GW renewable energy project pipeline for its own usage, which will include solar and wind generating plants.
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BayWa r.e. has been selected as the strategic investor to acquire a Spanish solar development portfolio through an international tender process. The said portfolio is sponsored by Quercus, a specialist investor in renewable energy. The portfolio consists of 11 solar development projects in Spain with a total installed capacity of over 700 MW.
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Greenalia, an independent renewable energy company, is planning to build 410 MW of solar capacity in Andalusia, Spain distributed across nine projects. In the municipality of Marmolejo, Jaen province, the company is expected to invest close to $283 million in constructing the Guadame I-V, Zumajo I-II, and Marmolejo Solar I-II projects.
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Spain’s Ministry for the Ecological Transition and the Demographic Challenge (MITECO) has announced that it will hold its next renewable energy auction, with a capacity of 500 MW in April 2022. Of this, 200 MW is allocated to concentrated solar power (CSP) with six hours of battery storage capacity, 140 MW to distributed solar photovoltaic (PV) projects, 140 MW for biomass projects, and 20 MW for other technologies.
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Plug Power Inc., a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, and ACCIONA Energa, a global developer, owner, and operator of renewable energy projects, have announced that their previously announced 50-50 joint venture has been completed.
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The Spanish Government has announced the results of its 3.3 GW technology-neutral renewable energy auction. The auction, however, was slightly undersubscribed as many companies decided not to compete due to government’s plans to impose a new levy tied to rising gas costs. This would have hampered revenues and these concerns limited participation.
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Engie, a French energy company, and Crédit Agricole Assurances, a French insurance company, have agreed to acquire Eolia Renovables, a Spanish renewable energy provider. Engie will gain 821 MW of onshore wind capacity, 78 MW of solar photovoltaic (PV) capacity, and a 1.2 GW pipeline of renewable projects as part of the acquisition.
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Amancio Ortega, the founder of the Zara clothing brand, has entered the renewable energy market by acquiring a stake in a wind farm managed by Repsol, the Spanish energy giant. According to the reports, Ortega’s investment holding Pontegadea will pay $281 million for a 49 per cent stake in the Delta wind farm in the northern province of Zaragoza.
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The government of the Navarra region of Spain has given its approval for a 160 MW solar project planned by Anpier, the national association of photovoltaic energy producers. The facility will be installed on one of the country’s largest artificial irrigation canals, the Canal of Navarra. According to the report, the proposed project is technically and financially viable because it would significantly reduce shadowing.
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Based on figures, Spain can consolidate itself as the leader in green production, estimating its production at 1,750 TWh/year and anticipating a successful export to the rest of Europe and North Africa. Spain is expected to start producing the world’s cheapest green hydrogen in the mid-30s according to Aurora Energy Research, so by 2028, green hydrogen could overtake blue hydrogen.
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Eni, an Italian energy firm, has agreed to buy a 1.2 GW renewable energy portfolio in Spain from Azora, an independent real asset management company. Azora’s portfolio includes three operational wind farms, one under construction wind farm (for a total of 230 MW), and five major solar power projects in advanced phases of development totaling 1 GW.
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The Ministry for the Ecological Transition and the Demographic Challenge (MITECO) of Spain has published a roadmap for the construction of up to 3 GW of floating offshore wind by 2030. Over the next decade, Spain plans to build 1-3 GW of floating offshore wind and up to 60 MW of pre-commercial wave tidal and other sustainable marine energy.
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Sonnedix, a global independent power producer, has purchased a 300 MW solar PV portfolio from developer RIC Energy, with construction set to begin around the end of 2022. The portfolio is based in the east-central Spanish city of Cuenca and it is divided into two 150 MW projects with secured land and grid access.
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Enel Green Power España is executing three solar PV plants – Veracruz, Puerta Palmas and El Doblón between Mérida and Almendralejo in the Extremadura region located in western Spain. The entire project being built at an investment of around 96 million euros is under construction and is expected to come into operation in December 2021.
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Acciona SA has announced its intention to float its renewables subsidiary, Corporacion Acciona Energias Renovables SA, or Acciona Energia, on domestic stock exchanges. The company reported that the registration document for the initial public offering process has been approved by Spanish market regulator CNMV. Acciona Energia will be listed under the ticker symbol ANE and trade its shares on the Madrid, Barcelona, Bilbao, and Valencia stock exchanges.
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Merck & Co (MSD), an American pharmaceutical company plans to purchase power from 45 MW of Total SA’s solar projects in Spain. A power purchase agreement has been signed by the companies for a period of 10 years. 90 GWh of power will be supplied annually under the agreement. The power will be supplied from Total’s projects in the Spanish region of Castilla La Mancha.
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Spanish solar tracker and mounting systems manufacturer PV Hardware (PVH) announced the launch of its manufacturing facility in Saudi Arabia. The factory will be owned and operated by the company’s Saudi unit, PV Hardware Middle East, and will produce PV trackers, mounting structures, and robotic cleaning devices. The products will be marked as ‘Made in KSA’ in line with the rules for domestic content recently outlined by the country’s government.
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