Iberdrola and Exiom to Invest EUR 20 Million in Solar Panel Factory in Spain

• Spanish utility Iberdrola SA and solar panel maker Exiom have partnered up to build the first industrial-scale solar PV panel factory in Spain, investing EUR 20 million in the region of Asturias.

What happened?

Spanish utility Iberdrola SA and Spanish solar panel maker Exiom have announced their partnership to build the first industrial-scale solar PV panel factory in Spain. The investment for the project is estimated to be EUR 20 million and it will be located in the region of Asturias, in the old mining town of Langreo. According to Iberdrola, the factory will create 115 direct jobs and help revive the economy in the mining region. The facility is expected to commence operation in 2023. (Source: Iberdrola)

Why does it matter?

The investment will come from Iberdrola's Perseo programme, which supports start-ups and industrial innovations in the field of electrification and decarbonisation. This investment will enable the development of a new industry in the region, bringing employment opportunities and reviving the local economy. It will also be a major step forward for renewable energy in Spain as it will provide a new source of clean energy.

What's next?

Exiom has two solar panel factories in China with a combined production capacity of 1 GW, according to its website. The new factory in Spain will contribute to the global efforts to reduce carbon emissions and move towards a more sustainable energy future. It will also provide the opportunity to develop innovative technologies and create new jobs in the renewable energy sector.