Spain's Capital Energy creates 305 MW of solar projects in Madrid

Nov 17, 2021 04:45 PM ET
  • Spanish renewables business Capital Energy has actually prepared 3 solar PV projects totalling 305 MW to set up in the Madrid region of Spain, it stated on Wednesday.
Spain's Capital Energy creates 305 MW of solar projects in Madrid
Image: Jordi Domènech i Arnau

These projects, which have actually gotten to the general public appointment phase, will certainly involve a mixed financial investment of over EUR 126 million (USD 142.5 m), claimed Capital Energy.

The firm's strategy is to construct three solar farms-- 130-MW La Vega, 100-MW Albares and 75-MW Cruz-- throughout 5 different communities in the Madrid area. The whole initiative will require over 529,000 photovoltaic panels.

La Vega, Albares and also Cruz are to become Capital Energy's very first renewable energy setups in Madrid, however additionally among the first utility-scale solar farms in the region.

According to Spanish grid driver Red Electrica de Espana (REE), the region of Madrid had 232 MW of renewable energy mounted at the end of 2020, with solar PV capability making up only 63 MW. The rest is comprised of hydropower (109 MW) and renewables classified as various other, according to REE's 2020 renewables report.

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