Energy Entertainment

Enel acquires Spanish solar farms’ portfolio worth 519MW

The world is gradually transiting from fossil fuel energy to renewable energy, with the private and public sectors working together to achieve the net-zero emission target. In the recent report, Enel Green Power Espana took a huge step, and in total, the company has acquired a Spanish solar farm portfolio worth 519 MW. The company took a deal with the local developer Arena Power. This opportunity is grand for the power company but a massive step for the Spanish government as the country works to achieve sustainable renewable energy. With this deal, there is an adequate clean energy supply.

This portfolio consists of eleven projects in their development stages in the Huelva province, where the construction and operations are expected to begin in 2022 and 2024, respectively. These projects forming the portfolio are in six locations, San Juan del Puerto, Niebia, Beas, Gibraleon, Trigueros and Palma del Condado.

Power delivery under the Enel Green Power will reach the Spanish people via the largest energy-consuming industrial centers in Huelva Industrial Park. The development team claims that the power will meet the energy needs of the oil, chemical, and Metallurgical in Huelva center, which hosts nineteen industrial facilities and eighteen companies.

This grand project has a budget of 350 million euros financed by Enel Company, which includes money for the project’s acquisition, construction, and start-up process. Initially, the company will create at least 1250 job opportunities during the construction phase and twenty-six jobs in the operation and maintenance phase. In an announcement from the company, Enel claims that renewable power energy will function and be ready to power a green hydrogen production project that the company previously proposed to the Ministry of Ecological Transition and Demographic Challenge.

Rafael Gonzalez, head of Iberia power generation under the Enel Green Power, expressed his thoughts on this deal. He highlighted that this deal is crucial to the company’s 2021-2023 strategic development plan. It is also a demonstration of the company’s commitment to helping the government decarbonize the Spanish economy.

He explained why it is vital to construct renewable farms close to green power consumption areas since it is a powerful way to ensure industrial activity sustainability in the province. Besides, executing these projects is a way to create a two-way value that will improve the company’s financial statement and impact local communities positively.

Europe is one of the continents that have its target set on green energy. All the countries are working hard aiming at the final goal, net-zero emission target. This deal with Enel will push Spain ahead, reducing the dependency on fossil fuel energy. Experts claim that this step is beneficial to all the people involved include Enel, the country, and the local communities.