Spain’s largest energy provider, Iberdrola, and Spanish PV project developer Prosolia will jointly invest €850 million in the construction of four solar parks with a combined capacity of 360 MW in Spain and a 1,140 MW solar facility in Portugal by 2025, according to a statement released to pv magazine by Prosolia.
The solar project in Portugal will be located in Santiago do Cacém, about 200 kilometers south of Lisbon. Iberdrola’s stake in this plant will be 50%. Prosolia has planned the project, which is currently under review by the local environmental authorities, through its subsidiary Sunshining. The plant will employ Tesla batteries.
No details were released on the four power plants that the two companies will construct in Spain. “The alliance also includes the possibility of collaborating on new projects in the future,” Pedro Pestana, a member of the Prosolia board, told Reuters yesterday. “Its creation responds to the objective of reinforcing Iberdrola’s growth in Portugal and Prosolia’s objective of becoming a benchmark in Europe.
Prosolia also secured a project in the solar auction held by the Portuguese government in 2019.
