June 6 (Renewables Now) - The plan for the 590-MW solar photovoltaic (PV) farm in Spain moved a step closer towards realisation after its developer Iberdrola SA (BME:IBE) submitted it to the country’s ecological transition ministry for approval.
The project, called Francisco Pizarro, will involve an investment north of EUR 300 million (USD 337.9m), Iberdrola said Thursday. Up to 1,000 people will work on the 1,300-hectare (3,212 acres) construction site located in the region of Extremadura in western Spain.
The Spanish utility says that it will be Europe’s largest PV plant once it is completed. It will surpass its own 500-MW Nunez de Balboa PV farm currently under construction in the same region.
The Francisco Pizarro solar farm is due for commissioning in 2022. Once online, it will be capable of generating enough electricity to meet the annual power needs of 375,000 people.
Iberdrola has renewable energy projects totalling more than 2 GW, including Francisco Pizarro, tied up in administrative procedures or under construction in Spain. The energy giant plans to install 3 GW of new wind and solar power capacity in its home country by 2022 and at least 10 GW by 2030.
(EUR 1.0 = USD 1.13)