Iberdrola, a Spanish power utility, has received environmental permissions for the 1.2 GW Fernando Pessoa solar project in Portugal. The Fernando Pessoa project is said to be the fifth-largest solar photovoltaic plant in the world and is situated at Santiago do Cacém, near Sines. It will feature Prosolia Energy as a partner and is anticipated to go operational in 2025.
During the construction phase, the Fernando Pessoa project will provide up to 2,500 jobs in the region. Once operational, it will be able to produce enough renewable energy to supply 430,000 homes’ yearly energy demands. Iberdrola stated that the grid connection has been contracted to the Portuguese operator Ren.
In January 2023, Iberdrola announced that it would construct its first floating PV facility in Brazil. Iberdrola’s subsidiary, Neoenergia, would construct the solar project at the Xaréu dam on the island of Fernando de Noronha. The project would cost $2.1 million and would include almost 940 solar panels. The company teamed up for this project with Compesa, which manages the water and sewage distribution system on Fernando de Noronha.
REGlobal’s Views: Portugal has recently notified a new regulatory framework to increase deployments in its renewable energy sector. This will significantly help in increasing investments in this space especially as large developers like Iberdrola plan mega projects in the country.