Spanish energy group Iberdrola SA (BME:IBE) has formed part of a public-private partnership that will realise a 100-MW solar photovoltaic (PV) project in the Basque Country.
The power utility, itself headquartered in Spain’s northern region, created the alliance with local business cooperative Mondragon, the governing council of Alava province and the Basque Country government’s energy agency EVE.
The partners plan invest close to EUR 70 million (USD 78.9m) to build the EKIENEA solar park in the municipality of Arminon in Alava province, Iberdrola said Wednesday.
The new plant will be located next to the operating 24-MW Ekian solar park, co-developed by EVE and Group Krean, the engineering division within the Mondragon corporation.
Mondragon, through Krean, holds a 5% stake in the new endeavour. The energy agency and the Alava council own a 20% stake, leaving Iberdrola with the remaining 75% in EKIENEA.
The group expects to start construction in 2022, after completing environmental studies and the permitting process. The EKIENEA solar park could then be commissioned in 2023, Iberdrola said.