Univergy Solar opens unit in Bilbao to promote renewables in Basque Country

Spanish-Japanese renewables company Univergy Solar announced on Tuesday that it has set up a subsidiary in Bilbao that will work to accelerate the deployment of renewable energy in the Basque Country region of Spain.

The new unit, Univergy Partners, will focus on developing 100% green energy projects and have its own portfolio, which the parent company expects will help turn the business into a “future leader of the photovoltaic (PV) and offshore wind power sector in northern Spain”.

It will also tap into the region’s green hydrogen market, bolstered by the Basque Country’s strategy to support the transition to the new fuel, according to the parent company.

Univergy Solar already launched a green hydrogen division and announced plans to develop two electrolyser projects and six filling stations in Spain.

Univergy Solar highlights that it has a portfolio of 230 PV projects totalling some 4 GW in development across the Spanish mainland, the Canary Islands and the Balearic Islands. The company is working to boost this capacity, counting on the Basque Country’s potential to contribute to the growth, it said.

The Bilbao-based unit will also contribute to promoting projects in the US and Mexican markets, Univergy Solar founder and CEO Ignacio Blanco added.

According to Invest in Biscay, a platform that promotes investment in the Basque Country’s Biscay province, Spain’s northern region is the home to around 350 energy sector companies, which collectively gross EUR 47 billion (USD 55.91bn) in global revenues.

(EUR 1.0 = USD 1.189)

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