Spain's Galicia seeks to mobilise EUR 3bn in green investments

The Hinojal wind farm. Source: Fersa Energias Renovables SA.

March 9 (Renewables Now) - Spain's autonomous community of Galicia announced on Thursday that it intends to mobilise invetments of more than EUR 3 billion (USD 3.7bn) in energy efficiency and renewable energy projects over the next two years.

The planned public-private investment is part of the Energy Guidelines of Galicia 2020 programme, approved by the president of the Galician Government, Alberto Nunez Feijoo.

In regards to renewables alone, the estimated investment is of EUR 1.3 billion and it should allow the region to add more than 1,200 MW of green energy to its mix. The government plans for 1,000 MW to come from wind, hydro, biomass and solar photovoltaic (PV) sources and the remaining 200 MW to relate to biomass, concentrating solar power (CSP), geothermal and heating.

Feijoo explained that this investment will seek to lower energy costs, improve the quality of energy supply and make the Galician business sector even more competitive. For this, the government will focus on seven areas -- renewable energy, innovation, energy efficiency, sustainable mobility, energy dependence, quality of supply, and consumer information.

(EUR 1 = USD 1.23)

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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.

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