Iberdrola commissions 37-MW solar duo in Portugal

Spanish utility Iberdrola SA (BME:IBE) announced today that its 12-MW Montechoro I and 25-MW Montechoro II photovoltaic (PV) plants have started operations in southern Portugal.

Located in the Algarve region, the duo required an investment of EUR 30 million (USD 32.7m).

Montechoro I and II consist of over 64,554 bifacial panels capable of generating 56.84 GWh of green energy annually, enough to meet the demand of some 19,000 households.

"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," said Alejandra Reyna, CEO of Iberdrola Renovables Portugal.

At present, Iberdrola has 1,435 MW of operational assets in its Portuguese pipeline, including the 1,158-MW Tamega Pumped Hydro Complex, which is planned to be integrated into a 274-MW wind farm and thus form the largest hybridisation project in the country.

(EUR 1.0 = USD 1.093)

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