Iberdrola completes two PV projects in Portugal
Iberdrola has announced that the Montechoro I and II PV plants, located in Algarve, Portugal, have been completed and now contribute to the country’s renewable production capacity.
Image for illustration purposes.
Portugal, Algarve: Iberdrola has announced that the Montechoro I and II PV plants, located in Algarve, Portugal, have been completed and now contribute to the country’s renewable production capacity. With an installed capacity of 37 MW and an annual production capacity of 56.84 GWh, the projects were awarded to Iberdrola in an auction in 2019. They will generate enough energy to supply around 19000 households, avoiding the emission of more than 21 million tonnes of CO2 annually. The total investment was around €30 million.
Alejandra Reyna, CEO of Iberdrola Renovables Portugal, said: “The completion of two additional photovoltaic plants represents an important milestone on the path towards the decarbonisation of the economy, reinforcing the renewable energy production capacity in Portugal and contributing to socio-economic development, in line with national and global objectives to reduce emissions and promote energy autonomy”.
The company announced it would continue to invest in the expansion of its production portfolio in Portugal, supporting the energy transition, improving energy security and competitiveness and creating sustainable employment throughout the value chain. It already owns a portfolio of projects in operation with an installed capacity of 1435 MW.
Source: Iberdrola
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