Spanish company Gas Natural Fenosa announced on Wednesday it was awarded 250 MW of solar power in the recent government renewable energy auction held in the Iberian country.
The company expects to invest EUR 165 million (USD 191.9m) in the construction of the solar projects, which should be completed by the end of 2019.
This new capacity addition allows Gas Natural Fenosa Renovables, the green arm of the Spanish firm, to position itself in the development of photovoltaic (PV) projects in Spain, it pointed out.
Gas Natural had also secured 667 MW of wind capacity in the May auction, which will involve a maximum investment of EUR 700 million.
With the development of all these projects, the company expects to meet and exceed the targets set in its Strategic Plan for 2018 and 2020 in terms of renewable growth in Europe, it noted.
(EUR 1 = USD 1.163)
Choose your newsletter by Renewables Now. Join for free!
You have run out of free articles this month. Get more for free
Spain's Solaria, EVE get enviro nod for 100 MW of Basque Country solar
TotalEnergies, European Energy to team up on 4 GW of renewables
Spain's EiDF to place convertible debentures with private investor
Norges Bank in talks to invest in 1 GW of Iberdrola's renewables - report
TotalEnergies breaks ground on 263 MW of solar in southern Spain
Infranity bankrolls construction of 141 MW of solar in Spain
Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.