While recent solar auctions in Spain and Portugal have made headlines with low prices and high levels of participation, the power purchase agreement market will be key to helping both countries reach their 2030 solar deployment targets, it was suggested during a panel discussion.
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.
EDP will focus on North America to ramp up its solar capacity in the next five years as part of a new strategic update that will see the Portuguese utility target more than 50GW of renewables additions by 2030.
A proposed joint venture (JV) between renewables firm Acciona and US hydrogen fuel cell maker Plug Power will invest more than €2 billion (US$2.41 billion) to develop a green hydrogen platform in Spain and Portugal.
There exists a significant opportunity for developers to capitalise on Portugal’s upcoming solar auction to deploy floating PV on the country’s reservoirs, according to panellists speaking at the Solar Finance and Investment Europe online event.
In this project round-up, NextEnergy makes acquisitions in Portugal and Chile and BayWa r.e. sells two solar sites in Malaysia to local power producer reNIKOLA Sdn Bhd.
Lots for PV projects on dams and beside motorways are set to be included in Portugal’s third solar tender, the country’s state secretary for energy, João Galamba, has said.
