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Iberdrola is making progress in its investment strategy on the Iberian Peninsula. The Algeruz II photovoltaic facility was commissioned. This is the first of its kind in Portugal.
The plant contains more than 50,500 monofacial, fixed photovoltaic modules. These will produce enough clean energy to power more than 11,000 homes each year and stop the release of 13,400 tonnes CO2 into our atmosphere. The project, which involved an investment in excess of EUR17.8 millions, has created more than 200 jobs during peak construction times, all of which were filled by local workers.
Iberdrola was a successful bidder for the most lots at the 2019 auction in Portugal. There were 7 lots total, three of which are currently under construction and will be commercially operational during the year. These include the Alcochete I (32.89MWW), Alcochete II (12.72MWW) and Conde (13.51 MW) solar plants. They are all located in the Setubal region. Alcochete I, II will use bifacial technology to maximize energy production and lower the average price of electricity by 16%.
The Montechoro I (11.57MW), Montechoro II (24.95 MW), and Carregado (64.1MW) projects were also awarded in the same auction. They are currently obtaining construction licences and are expected to be in commission in 2023. Iberdrola’s total PV capacity in Portugal will then reach 187 MW.
RENEWABLE COMMITMENT PORTUGAL
Iberdrola is a leader in the energy transition, having been active for over two decades. It has played a major role in the transformation and green recovery of the economy as well as the creation of jobs and the improvement of working conditions. The company launched a landmark investment plan totaling 150 billion euros over 10 years – 75 Billion Euros by 2025 – to triple renewable capacity and double network assets, and promote clean and sustainable consumption.
It is crucial to accelerate the energy transition in the current environment, in order to reduce our dependence on fossil fuels and mitigate the impacts of climate change.
Iberdrola in Portugal serves a large commercial portfolio. It has 92 MW in wind power in operation. Iberdrola has also commissioned the Daivoes and Gouvaes hydroelectric plants. These plants are part of the Tamega River gigabattery, one of Europe’s largest energy storage facilities with 1,158 MW capacity. This investment has cost more than 1.5 billion Euros.
A large wind farm of 400 MW is planned to be built, and it will be linked to the gigabattery. This will transform the complex into a hybrid generation facility. This will enable users to use wind energy when they are most needed and to generate surplus power for the pumping system. It also improves the efficiency of the system and guarantees electricity supply.