iberdrola

International renewables developers are rushing to secure projects in Brazil before the government takes away subsidies for new solar and wind farm installations next year.

Iberdrola has formed a strategic alliance with insurance company Mapfre that will initially invest in 230MW of clean energy projects in Spain, including 130MW of solar PV.

Spain’s government and the EU will provide funding to support the development of 65 new solar projects in the Canary Islands by the end of next year.

Spanish energy company Iberdrola has added 750MW of solar PV capacity to its development pipeline.

EDP, Iberdrola and BayWa r.e. are among the signatories of a new charter that calls on Europe to “accelerate and massively deploy” additional renewables capacity to support the continent’s green hydrogen ambitions.

Iberdrola is progressing with efforts to develop three solar farms in Spain’s Valencia region that will have a combined capacity of 450MW and require an investment of more than €235 million (US$284 million).

Iberdrola has unveiled plans to double its spend on renewables, taking its investment from €75 billion (US$91 billion) by 2025 to €150 billion (US$182 billion) by 2030.

Spain can be the global leader in producing green hydrogen thanks to its high levels of irradiation and available space for developing new PV projects, it has been suggested during the Solar Finance & Investment Europe 2021 online event.

Solar PV bidders secured two-thirds of allocated capacity in the first of Spain’s new renewable energy auctions, which was held yesterday (26 January) and was more than three times oversubscribed.

European renewables PPAs could exceed 10GW of capacity by year-end, driven by growth in Spanish solar market.