Iberdrola considering selling its renewable assets in Spain
The sale of the 2.4GW asset portfolio could raise more than $700m for the company.
The sale of the 2.4GW asset portfolio could raise more than $700m for the company.
The firms will bid for a lease area that has more than 1.3GW of potential clean energy capacity.
The projects will be built with a total investment of €180m ($196m).
The bank discontinued funding oil extraction and production projects in 2016 to fulfil the climate goals and reduce carbon emissions.
The agreement increases Encavis’ solar project pipeline from 2.3GW to 2.6GW.
The renewable energy assets at the energy park will have the capacity to generate 11.5TWh of power a year.
The 465MWac solar project is claimed to be the largest non-hydro renewable energy asset in Canada.
The clean energy will be delivered from EGP’s two wind farms in Eastern Cape.
The portfolio is expected to generate revenues of around C$33.1m ($24.8m) this year.
The move is part of the company’s 2023-25 strategic plan to pay down debt and reduce its cost of capital.
Operational Monitoring technology directly observes and controls power equipment and functions to improve plant productivity.
The transmission line will have the capacity to transmit more than 3GW of renewable energy to consumers.
The ‘Demand Flexibility Service’ scheme aims to reduce load at peak hours.
The sale is the last divestment in ABB’s previously announced division portfolio measures.
The company will build the projects in Angola, Uganda and Zambia under the Etihad VII initiative.
The Kurzéme offshore wind project will have the capacity to generate 4.5TWh of renewable electricity a year.