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Iberdrola plans 111-MW PPA-backed wind complex in Spain

Iberdrola completed the wind turbines installation in Canary Islands

January 21 (Renewables Now) - Spanish utility Iberdrola (BME:IBE) announced today it plans to start construction work in the next few months on a 111-MW wind project at home.

The company said in a statement that, alongside Caja Rural de Navarra, it will build four wind farms as part of the 111-MW Cavar Complex project in the Cadreita and Valtieera municipal areas. The developers have already awarded a contract to Siemens Gamesa Renewable Energy SA (BME:SGRE) for the supply of 32 units of the SG 3.4-132 turbine model.

Upon completion in 2020, the wind power complex will produce enough power to supply some 46,500 homes per year. The output will be sold through long-term bilateral power purchase agreements (PPAs), according to the announcement.

Iberdrola said it intends to begin work on 700 MW of wind and solar photovoltaic (PV) projects in Spain and a total of 2,000 MW of renewable energy schemes worldwide this year. At present, the group has over 15,800 MW of installed renewables at home and more than 29,500 MW globally.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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