Cepsa, Ibereolica strike deal to promote 5 GW of solar, wind in Spain

Jun 1, 2023 05:40 PM ET
  • Spanish oil refiner Cepsa has secured a companion that will certainly accumulate to 5 GW of wind as well as solar farms in Spain to aid power its green hydrogen production plants as well as charging stations for electrical vehicles.
Cepsa, Ibereolica strike deal to promote 5 GW of solar, wind in Spain

The company said on Thursday it had signed an agreement with Spanish independent renewables firm Grupo Ibereolica Renovables to protect lasting access to renewable energy it requires to sustain its green hydrogen and also lasting wheelchair strategies.

Ibereolica is adding to the offer nine wind, four solar photovoltaic and also 2 hybrid wind-solar projects. The projects, which lie in the Spanish areas of Castile and Leon as well as Extremadura, are currently in sophisticated phases of planning.

The agreement will make sure the practicality of the projects because they will certainly gain from the long-term sale of electrical power, Cepsa claimed.

The larger share of wind power in Ibereolica's portfolio is likewise an asset to Cepsa's green hydrogen projects, as the wind production curve is complemented by the solar farms that the refiner is establishing in Spain, the company even more said.

"With these projects, Cepsa looks for to sustainably cover the energy consumption of its commercial facilities, specifically to produce green hydrogen and supply the ultra-fast reenergizing points it is setting up in its network of service stations for electrical vehicles", the press launch reads.

Grupo Ibereolica Renovables is the latest in the string of partners to sign up with Cepsa while it works to become aware the goals under its 2030 Positive Motion strategy, that include setting up a green hydrogen valley in Andalusia, doing away with traditional refineries in favour of diversified power parks, biofuels production as well as renewable energy installments.

Solar Installers, Manufacturers