The Spanish gas and power provider, which has invested heavily in wind power over the past years, is increasing investments in solar energy projects.
According to the Spanish grid operator REE, grid-connected installed PV capacity had reached 4,674 MW at the end of last year. Furthermore, the country has another 55 MW of installed PV power coming in the form of standalone PV systems.
The Spanish Minister of Energy Álvaro Nadal said that this auction will have a more balanced approach towards the competings technologies, which are exclusively solar and wind.
Projects include a solar park and several installations of hundreds of kilowatts, all of which located in the island of Gran Canaria.
The project is planned to be developed in the municipality of Talaván, in the southern region of Extremadura.
The government of the archipelago is planning to decommission parts of thermal power plant Es Murterar and to increase the share of renewables through the deployment of large-scale PV capacity.
Through the new fund, the Spanish financial services provider hopes to initially raise up to €20 million.
The government of the Spanish archipelago is planning to define the bidding rules for its own renewable energy auction by the end of July.
The decree implementing the auction was published in the country’s official journal on Saturday. Solar seems to have more options compared to the previous 3 GW auction, in which only 1.5 MW of PV was contracted.
Only solar and wind power projects will compete in the auction. Wind, however, will probably have the largest share as the bidding rules remain unchanged.
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