July 23 (Renewables Now) - Spain’s Iberdrola SA (BME:IBE) and savings bank Caja Rural de Soria have signed a collaboration agreement aiming to develop, build and operate a 114-MW onshore wind farm in the Spanish region of Castile and Leon.
The investment in the new wind project, named Buniel, is projected at EUR 100 million (USD 111.7m), the energy group said Tuesday.
The park will span across the municipalities of Cavia, Cayuela and Buniel in Burgos province. It will be equipped with 26 units of Siemens Gamesa wind turbines rated at 4.5 MW.
The partners expect to launch construction in 2021. Once online, the Buniel wind farm will be capable of producing enough power for some 350,000 households each year.
In the Castile and Leon region, Iberdrola operates 5,087 MW of capacity, 1,454 MW of which are wind power. The energy company is currently going through the paperwork related to its plans to build 73 MW of additional wind farms in Burgos province.
(EUR 1.0 = USD 1.12)