Solaria eyes Spanish PV crown with 3GW-plus goal

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Solaria plants to complete its initial Spanish PV pipeline of 400MW by the end of 2019 (Credit: Solaria Energía y Medio Ambiente)

Solaria Energía y Medio Ambiente has unveiled ambitions to become Spain’s top solar IPP within five years, linking future growth to its speculation-free approach.

The developer recently shared plans to hit 3.325GW in installed Spanish PV capacity by late 2023, citing a 6.6GW Iberian pipeline it claims to have built solely through internal work.

Solaria explained the first 400MW it started building last year in the provinces of Cáceres, Valladolid, Salamanca, Toledo, Cuenca and Huesca will go live by the end of 2019.

The firm will follow with a second 658MW batch it wants to connect during H1 2020. By December of that year, installed capacity should have reached the 1.375GW mark.

No ‘speculation’ around connection points

Earlier this year, PV representatives urged Spain to crack down on grid market abuse, with claims that linking requests are intentionally delayed to arrange auction-like proceedings.

In a statement this week, Solaria CEO Enrique Díaz-Tejeiro said the firm is staying clear from the ongoing “speculation” with grid connection applications.

“All our projects are proprietary,” he remarked, ”We neither buy nor sell licences, which allows us to be extremely competitive with project execution costs.”

“Our entire pipeline has been internally developed, with enormous work behind the scenes to ensure [projects] are technically and economically feasible,” the CEO added.

All eyes on Spain

Together with Audax, BayWa r.e. and others, Solaria is among those competing for a slice of a buoyant Spanish solar market.

The country has become a byword for subsidy-free potential after years of policy-driven uncertainty, with projects going down the PPA route to unlock revenues.

The Madrid-listed firm, most recently trading at €4.5 (US$5.12) per share, recorded an income of €9.49 million (US$10.81 million) and EBITDA of €7.7 million (US$8.77 million) for Q1 2019.

The IPP is also active beyond its Spanish home turf, with utility-scale projects in Uruguay and separate schemes in Greece and Italy’s Le Marche and Sardinia.

Read Next

July 21, 2021
At least 455GW of new solar PV capacity will need to be installed each year by the end of this decade for the world to reach net zero status by 2050, new analysis by BloombergNEF (BNEF) has found.
July 19, 2021
Merchant solar and projects backed by power purchase agreements (PPAs) drove ground-mounted PV deployment in Spain last year, as the country installed its second-highest yearly amount of 2.8GWp, new figures from trade association UNEF reveal.
PV Tech Premium
July 15, 2021
Earlier this week the US National Renewable Energy Laboratory (NREL) published its 2021 Annual Technology Baseline (ATB) document, detailing the continued reduction in the levelised cost of electricity (LCOE) of the country’s core generators. Liam Stoker takes a look at the data and discusses just how cheap solar, and solar-storage, could become.
PV Tech Premium
July 12, 2021
BP’s Statistical Review of World Energy 2021, published late last week, highlights how the world’s energy systems are changing at rapid pace, but equally illustrates how that pace of change must accelerate across the world if established economies are to meet net zero targets. Liam Stoker looks at the key takeaways from the report.
July 8, 2021
While the Asian solar industry has been hit by COVID-19 fueled disruption, the pandemic has also boosted interest from offtakers, industries and governments alike.
July 5, 2021
Shares in the renewables division of Spanish utility Acciona were up 7.3% on their initial public offering (IPO) price during their maiden day of trading on 1 July.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
July 29, 2021
Webinar
Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021