From pv magazine Spain
Spanish energy company Iberdrola has announced it will team up with Spain-based insurance group Mapfre to jointly invest in renewable energy in Spain.
The two companies set up a joint venture to build wind and solar power plants across Spain. The largest shareholder will be Mapfre, with a 80% stake, and Iberdrola is holding the remaining 20%.
The joint company's current renewable energy portfolio consists of 100 MW of operational wind power plants and 130 MW of PV plants which are under development. The agreement provides for the incorporation of other operating assets, as well as new renewable energy development projects, for a total capacity of up to 1,000 MW.
The 100 MW in operating assets are located in Castilla y León, distributed in two wind farms, in Soria and Burgos. The 130 MW of photovoltaic capacity is in the development phase in Castilla-La Mancha, in the province of Guadalajara, and its commissioning is scheduled during the third quarter of 2022.
Until now, Mapfre has made its investments in renewable energy assets through real estate and infrastructure funds or private equity. At the end of last year, the group made the first closing of its first infrastructure fund, amounting to €300 million, which it launched together with Spanish firm Abante to invest in funds from Macquarie Infrastructure and Real Assets (MIRA), the largest infrastructure group in the world.
Iberdrola and Mapfre began their collaboration in the energy field in January, when they reached an agreement to provide, with renewable electricity, nearly 3,000 offices of the insurance group in Spain.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
2 comments
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.