Statkraft Secures Approval for 150-MW Solar Project in Spain

• Statkraft's 150-MW Pinea solar project in Spain gains approval, promising to boost renewable capacity and stabilize power prices with innovative tech and strategic energy shifts.

Statkraft has received environmental approval for its 150-MW Pinea solar project in Cáceres, Spain, with an investment of approximately EUR 100 million planned. This approval is significant as regional authorities in western Spain have become more stringent, balancing biodiversity and landscape impacts with energy goals. The project's location benefits from strong solar irradiation and proximity to existing substations, which helps minimize curtailment and interconnection delays. Statkraft's strategy in Iberia includes pairing conventional solar arrays with selective storage to shift energy to higher-value evening hours.

The Pinea project is expected to enhance Spain's renewable energy capacity, contributing to the country's 2030 emissions and renewables targets. The project will likely employ advanced technologies such as bifacial modules on single-axis trackers to optimize yields without oversizing interconnections. Spain's solar build-out strategy relies on a mix of merchant exposure and contracted revenue, with corporate PPAs and hedges stabilizing cash flows. If construction proceeds promptly, Pinea will bolster the region's status as a solar powerhouse, helping stabilize Iberian power prices.

How will Statkraft's Pinea project impact Spain's renewable energy goals and regional power prices?

• The Pinea project will contribute significantly to Spain's renewable energy capacity, aligning with the country's 2030 emissions reduction and renewable energy targets.
  
• By utilizing advanced technologies like bifacial modules and single-axis trackers, the project aims to maximize energy yield, enhancing overall efficiency.
  
• The strategic location of the Pinea project, with strong solar irradiation and proximity to existing substations, will help reduce curtailment and interconnection delays, ensuring a more reliable energy supply.
  
• Statkraft's approach of integrating conventional solar arrays with selective storage will allow energy to be shifted to higher-value evening hours, optimizing revenue and grid stability.
• The project supports Spain's solar build-out strategy, which balances merchant exposure with contracted revenue through corporate PPAs and hedges, providing financial stability.
• If construction progresses without delays, the Pinea project will reinforce the region's reputation as a solar energy leader, potentially stabilizing regional power prices by increasing supply.
• The investment in the Pinea project reflects a commitment to sustainable energy development, balancing environmental considerations with economic and energy goals.
• By contributing to a more diversified energy mix, the project will help reduce dependency on fossil fuels, supporting Spain's transition to a low-carbon economy.