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Atitlan Raises to €195 Million its Photovoltaic Investment With its Fourth Plant in Alicante

The company Atitlan will invest in a new photovoltaic plant in Alicante. The solar photovoltaic plant will generate 230 GWh annually, that is, the average annual consumption of more than 70,000 Spanish households, and will prevent the emission into the atmosphere of more than 88,000 tons of CO2, equivalent to the planting of 300,000 trees.

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The photovoltaic solar energy division of the investment group Atitlan, led by Roberto Centeno, son-in-law of Juan Roig, and Aritza Rodero, has started the processing of its fourth plant in the province of Alicante. The project to install 116 megawatts (MW) of power foresees an investment of more than $72 million (€62 million).

This is the fourth project in the province, where it has also submitted applications for two plants in Orihuela and another in the municipalities of Villena and Salinas, which has been rejected by some social and environmental groups. In total, this installation would add up to a total investment of $226 million (€195 million) to build 384 MW of power.

Read more about the new photovoltaic plant in Alicante that the company Atitlan will build and read the latest economic news from around the world with the Born2Invest mobile app.

An investment of more than $72 million (€62 million) will be made

The new initiative aims to build a photovoltaic plant in the municipalities of Monóvar and Salinas, in the province of Alicante. The project, promoted through the Vulpes Velox Invest company, has requested the corresponding Prior Administrative Authorization and Environmental Impact Assessment.

The construction of this project foresees an investment of more than $72 million (€62 million), taking into account the material execution budget of the plant and its evacuation infrastructures. That will mean an economic injection for the municipal coffers of the town councils of Monóvar and Salinas of around $4.6 million (€4 million) in construction taxes, rates, and canon, in addition to other taxes associated with the operation that will be paid annually throughout the useful life of the installation.

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The solar photovoltaic plant will generate 230 GWh annually, that is, the average annual consumption of more than 70,000 Spanish households, and will prevent the emission into the atmosphere of more than 88,000 tons of CO2, equivalent to the planting of 300,000 trees.

The energy generated at the plant will be evacuated at the Novelda electrical substation, owned by Red Eléctrica de España, through evacuation infrastructures shared with other developers who have access and connection permits at this same substation, thus minimizing the environmental impact of the infrastructures required for the connection.

The use of concrete and earthworks will be practically nil, guaranteeing the colonization of the entire terrain by wild vegetation.

It is estimated that the construction of the facilities will employ more than 600 people, both directly and indirectly, as well as promoting local employment, with the support of the local councils.

Prior to defining the site and the layout of the evacuation infrastructures, the company has held several working meetings with the municipalities involved. As a result of these meetings, specific initiatives have arisen for this project, such as the acquisition of the vineyard rights of some plots of land and the commitment to transfer them to local farmers and wineries, as wine production is one of the main economic drivers of the area.

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(Featured image by Andres Siimon via Unsplash)

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First published in elEconomista.es, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Olivia McCall is passionate about education, women and children’s rights, and the environment. A long-time investor, she covers news about the latest stocks (lately marijuana and tech), IPOs and indices, and is always on the lookout for socially responsible startups. She also writes about the food sector, and has a keen interest on cryptocurrencies.