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Wed July 24 2024

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Ferrovial doubles-down on Spanish solar energy

9 Mar 23 Ferrovial is investing €75m (£67m) in two solar photovoltaic projects in Andalusia, southern Spain.

The two solar energy farms are expected to generate around 210GWh/year. (File picture).
The two solar energy farms are expected to generate around 210GWh/year. (File picture).

The company is acquiring the projects, which have all the necessary development permits, from a major developer. Construction work is expected to commence between the second and third quarter of this year.

Both solar farms are scheduled to become operational in the second half of 2024. The construction phase is expected to employ between 250 and 300 skilled workers, the company says.

The two projects will comprise 154,000 bifacial photovoltaic modules on single-axis trackers. Because the location receives a high level of solar radiation, they will be able to inject an estimated 210GWh/year of electricity into the grid, equivalent to the electricity used by approximately 60,000 homes.

They will also contribute to reducing CO₂ emissions by over 33,600 tonnes per year, according to Ferrovial.

Through its Energy Infrastructure & Mobility division, set up in 2020, Ferrovial is actively pursuing renewable energy projects in Spain. It is currently completing construction of the 50MWp El Berrocal plant in the same region of Spain. This project es expected to start operations in the second quarter of this year.

The company is also working to promote the development of the offshore wind power required by Spain to achieve its energy goals.

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Spain has vowed to become a leader in the European ‘floating wind’ market, targeting a capacity of three gigawatts by 2030. Floating wind refers to wind turbines mounted on floating bases anchored in deep water.

Spain's National Marine Spatial targets a capacity of more than 20GW and, due to the considerable depth of waters off the Spanish coast, the government is prioritising floating wind technology.

To date, Ferrovial has submitted expressions of interest for five wind farms in Spanish waters with an installed capacity of 2,250MW. These wind farms are to be installed between 11 and 30 kilometers off the coast in Lugo, Pontevedra, Gerona, Malaga and Gran Canaria. (See our previous report here).

Ferrovial created the Energy Infrastructure & Mobility division in 2020 with the aim of promoting and developing new sustainable business opportunities and coordinating existing initiatives related to energy infrastructure.

Through this division, Ferrovial participates in all phases of the projects, from identifying opportunities for development through financing to construction and operation.

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