The Spanish utility company, Iberdrola, is planning to build a 590-megawatt solar farm.
The utility firm, Iberdrola is in talks with Spain’s Ecological Transition Ministry to discuss their plans to build a 590-megawatt solar farm in Spain which would be Europe’s largest solar farm.
Costing over €300 million, the farm will be situated in the west of Extremadura and hopes to have 1.7 million solar panels, which will cover 1,300 hectares.
Following rules set by the Spanish government, the plans will be subjected to several public hearings. During which comments will be collected regarding the impact on landowners and the environment. Subject to these hearings, the project can then proceed.
Spain has a growing renewable energy market, with a projected delivery of seven gigawatts of solar and wind energy this year alone. The growth in this green-energy sector is thanks to the socialist government and several large auctions attracting the utility market.
The firm Iberdrola are extensively experienced in renewable energies, having seven other solar farm plans in place across Spain, while also having solar farms in the US and Mexico too. They were considered one of the first energy firms to embrace solar and other renewable energies over ten years ago.
If the plans for the new facility in Extremadura, known as Pizarro, go ahead then the solar panels will be able to feed the electricity grid that is currently being used by the Almaraz nuclear plant.
Iberdrola plans to finance the project themselves, although they are not ruling out a project loan in the future. However, the firm has not commented on the return on investment for Pizarro.