portugal solar

Iberdrola and the sovereign wealth fund of Norway have announced plans to invest more than €2 billion to add 1.3GW of renewables in Iberia.

Wind energy supplied 25% of the consumption in Portugal, followed by hydropower (23%), solar PV (7%), and biomass (6%).

AXA Investment Managers' investment arm AXA IM Alts has bought 25% stake in in Iberian renewables platform Finerge from Igneo Infrastructure Partners.

Spanish utility Iberdrola has signed a financing agreement worth €1 billion (US$1.08 billion) with the European Investment Bank (EIB) to build 19 solar power plants and three onshore wind farms in Europe.

The PPA can provide secured long-term visibility of cash flows to the company, according to NextEnergy Solar Fund.

Renewable energy producer Neoen has begun construction on what it is calling Portugal’s ‘largest’ solar park, a 272MWp facility comprising of two contiguous solar projects. The park is expected to be commissioned in early 2024.

BP-backed renewables group Lightsource BP is set to invest €900 million (US$1.1 billion) in solar company INSUN to fund the development of five utility-scale solar projects across Portugal.

Portuguese grid operator Redes Energéticas Nacionais has said it will invest more than €900 million (US$1.1 billion) by 2024 in technologies and improvements to the electricity network to support the country’s green energy transition.

A round-up of the latest solar PV project updates around the world, including news from NextEnergy Capital, Lightsource BP, and Sonnedix.