Spain’s National Commission on Financial Markets and Competition (CNMC) announced it has approved a 450 MW PV project being planned by German renewable energy company Juwi in the country‘s Murcia region.
The CNMC said in a document it approved the project after reviewing the economic and financial capacity of the company. According to the document, Juwi implemented a series of actions between 2016 and the first months of 2017 to secure financial backing for the project.
The solar farm is planned for a 1,088 hectare site in Mula, a small municipality of the sun-rich but job-poor southeastern region of Murcia. The project, which is being developed by the company’s unit Promosolar Juwi, was launched in 2012. In July 2015, Spain’s Ministry of Environmental Affairs granted approval to build the solar park.
The government of Murcia assigned the project the status of “Strategic Project” in 2013. This classification is assigned to infrastructure projects that can determine economic benefits for the region. Should the project go ahead, it is estimated that around 200 much-needed jobs will be created during the design, promotion and engineering phase, and a further 1,000 positions while construction is carried out.
A further authorization from Spain‘s Ministry of Industry is still required before construction can begin.