Iberdrola will build the power station in the town of Figueira da Foz, located between Lisbon and Porto, having received approval from the Portuguese General Direction of Energy for the project. The company forecasts that the plant will cost E400 million.

Following commencement of operations at the new facility, Iberdrola will have an installed power portfolio in Portugal of over 1,000MW.

The combined cycle plant will generate around 800 jobs during the building phase and a further 100, both direct and indirect, during its operation.