Iberdrola is set to double its renewables capacity by 2025 through a €75 billion (US$88.9 billion) investment package that sees the Spanish utility seek to take advantage of the “global energy revolution” and reach carbon neutrality in ten years.
Portugal’s record-breaking solar auction “exceeded expectations”, a top government official has told PV Tech, confirming that Spanish company Enerland was the company with the lowest bid.
Portugal’s second solar auction has closed with record-breaking low prices of €11.14/mWh (US$13.12), the country’s government announced this afternoon.
Europe’s fleet of solar arrays generated 68TWh of power in the first six months of 2020, a 15% increase on last year’s figure as new, larger solar farms came to the fore.
Iberdrola is to develop a landmark solar-storage-hydrogen facility in central Spain, professing it to be largest industrial green hydrogen facility in Europe once complete.
Iberdrola has hit the accelerator on its renewables investments in H1 in spite of the pandemic, as the multinational utility looks to move forward with a project pipeline that now exceeds 58GW.
Spanish utility Iberdrola has landed €800 million (US$903 million) in funding from the European Investment Bank (EIB) and Instituto de Crédito Oficial (ICO) to spearhead new renewable energy deployment throughout Spain.
