January 15 (Renewables Now) - Spanish utility Iberdrola SA (BME:IBE) will be DP Energy’s partner in a 320-MW hybrid wind and solar project in Australia that is planned to enter construction in the middle of 2020.
Ireland-based DP Energy announced Iberdrola’s participation in the project in a press release, without disclosing details about the Spanish group’s investment in the AUD-500-million (USD 344.7m/EUR 309.7m) scheme. It says on the project's website, however, that Iberdrola will own and operate the power plant, while DP Energy will be involved in the project “all the way through construction.”
Local media meanwhile report that Iberdrola has committed to invest AUD 500 million in the project, which has been delayed in the past few years due to transmission connection issues. This is Iberdrola’s first investment in Australia, its country manager Fernando Santa Maria has confirmed.
Called the Port Augusta Renewable Energy Park (PAREP), the hybrid power complex near Port Augusta in South Australia will be able to generate around 900 GWh of electricity per year that will mitigate some 400,000 tonnes of carbon dioxide (CO2) emissions. While the total approved capacity of the project is up to 375 MW, DP Energy expects the constructed capacity to be around 320 MW, most of which will come from wind power. Its construction is expected to take around 18 months.
(AUD 1.0 = USD 0.689/EUR 0.619)