Iberdrola secures its first 149 MW of solar in Portugal

Spanish power utility Iberdrola SA (BME:IBE) confirmed Thursday it had been awarded 149 MW of solar photovoltaic (PV) capacity in Portugal’s recently completed solar auction.

The company said that the awarded capacity will allow it to enter the Portuguese solar market for the first time.

Iberdrola has been present in Portugal since 2002 operating as a power and natural gas retailer. It has 92 MW of wind farms in the neighbouring country -- the 18-MW Catefica, the 32-MW Alto do Moncao and the 42-MW Serra do Alvao.

Besides solar, Iberdrola will be adding large hydro and storage capacity to its Portuguese portfolio. The utility has been building the 1,159-MW Tamega hydroelectric storage complex on the Tamega and the Torno rivers in northern Portugal. The three plants within the complex will be commissioned in stages between 2021 and 2023.

Choose your newsletter by Renewables Now. Join for free!