Spanish renewable energy and infrastructure company Elecnor has commissioned a 50MW wind farm in Spain’s Comunidad Valenciana region, the second project of this kind since 2012.

The project required an investment of €53m and was financed by Spanish bank Banco Sabadell through its Project Finance programme, which provides funds for major projects including real estate, infrastructure and energy generation.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The Cofrentes wind farm – located in Cofrentes, a town in the province of Valencia – consists of 13 turbines of 3.83MW each, produced by GE Renewable Energy.

The facility is expected to generate 155,00MWh of energy annually, enough electricity to power 43,000 homes while offsetting 66,000 tonnes of CO2 every year.

The project was developed by Elecnor’s wind unit subsidiary Enerfin and the power generated will be directed to an Iberdrola-operated grid.

 

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Understanding the project

The Cofrentes wind farm is the second wind project in the region since the last three wind farms in the region started construction in 2011 in the Canal de Navarrés region.

Enerfin won the Cofrentes project in the framework of the Comunidad Valenciana’s Plan Eólico (wind plan), which aims to reach a renewable power generation of 4,000MW by 2030 to comply with the region’s efforts to fight climate change.

The company will operate the wind farm under a 10-year power purchase agreement (PPA) with oil and gas multinational Compañía Española de Petróleos (Cepsa). The agreement has helped Elecnor access funding and allowed Cepsa to continue offering 100% renewable energy to its customers.

The project will also help local communities, as it will earn the Comunidad Valenciana more than €1.5m in total, with annual earnings of more than €400,000.

 

Company overview and share price

Founded in 1958, Elecnor has become one of Spain’s largest infrastructure and renewable energy companies, with a global turnover of €2.4bn in 2019.

In the last month, Elecnor’s share prices have fluctuated from €7.24 low on 30 March to an €8.48 peak on 20 April. At the moment of writing, prices are around €8.30.

 

 

Power Technology Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Power Technology Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving energy industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now