The renewable energy portfolio includes nine wind, four photovoltaic and two hybrid projects that are expected to produce clean energy sufficient to supply electricity to over four million households per year and eliminate the emission of 5.5 million tonnes of carbon dioxide annually
Spanish companies Cepsa and Grupo Ibereólica Renovables have forged an agreement to reinforce the development of 5GW renewable energy projects in Spain to secure long-term power supply for the former’s green hydrogen generation plants.
The renewable energy portfolio includes mainly wind power which is being developed by Grupo Ibereólica Renovables.
It has nine wind, four photovoltaic and two hybrid projects that are expected to produce clean energy sufficient to supply electricity to over four million households per year.
The clean energy portfolio is estimated to eliminate 5.5 million tonnes of carbon dioxide emissions annually.
Located in the provinces of Burgos, Valladolid, Palencia, Ávila, Zamora and Cáceres, the clean energy projects are at an advanced stage of planning.
They are scheduled to be operational in 2026.
Through the agreement, Cepsa aims to support long-term renewable electricity supply for its green hydrogen generation facilities located in the company’s Energy Parks in Andalusia.
Besides, the company plans to deliver electricity to the ultra-fast charging points that it is installing in its network of service stations for electric vehicles.
Cepsa commercial and clean energies director Carlos Barrasa said: “Through this partnership with Grupo Ibereólica Renovables, one of the main players in the renewable energy sector in Spain, we strengthen long-term access to sustainable energies at a stable and competitive price, to promote the development of our green hydrogen and biofuel projects, and as a complement to our renewable energy projects.”
The partnership is also anticipated to help Grupo Ibereólica Renovables to consolidate its platform of renewable generation projects in Spain.
Grupo Ibereólica Renovables president and founder Gregorio Álvarez said: “Our Group’s partnership with one of the main players in the energy sector, Cepsa, is a fundamental tool to develop our portfolio of renewable generation projects in Spain in the medium and long term, and reinforces our resolute commitment to decarbonising the energy mix as a means of promoting a more sustainable world.”
In December last year, Cepsa revealed its plans to invest more than €3bn to build a 2GW green hydrogen hub, dubbed Andalusian Green Hydrogen Valley in southern Spain.