Acciona and Mitsubishi have signed an agreement, under which Mitsubishi has acquired a 34% stake in Amareleja photovoltaic plant in Portugal, which is owned by Acciona.
With a total investment of E261m, the 45.8MWp Amareleja photovoltaic (PV) plant has an estimated annual production of 93 million KWh, enough to supply 30,000 homes with electricity.
The 250-hectare Amareleja plant will avoid the emission of 89,383 tonnes of CO2 per year that would have otherwise been produced by coal-fired power stations producing the same amount of energy.
The plant will help to achieve the objectives laid out in the Portuguese government’s E4 Energy Efficiency and Endogenous Energies policy. It is also expected to help Portugal meet its greenhouse gases reduction commitments.
Both companies agree on the need to move towards a sustainable energy model and to create the base for the significant expansion of industry and other productive sectors. The plant has set a benchmark in terms of its generation capacity, advanced technology and contribution to the local economy. These three key elements make it the first project for Acciona and Mitsubishi to mark the launch of their new collaboration in renewable energy and other sustainable development projects.
