Connect with us

Featured

Forestalia invests 270 million in eight photovoltaic parks in Aragon

Forestalia will develop half of its new projects, 3,000 MW, in 66 photovoltaic and wind farms in the province of Teruel. Only this “Teruel Plan” requires an investment of $2.9 billion (€2,4 billion). The group of Aragonese origin has already started the processing of eight photovoltaic parks with a capacity of 390 megawatts and a budget of $326 million (€270 million).

Olivia McCall

Published

on

The company Forestalia has started the processing of eight photovoltaic farms, which total 390 megawatts and will be launched in the provinces of Zaragoza and Teruel.

These eight parks have a budget of around $326million (€270 million) and will be located in the area of Campo Romanos -Comarca de Campo de Daroca-, and in the Comarca del Jiloca, specifically in the municipalities of Langa del Castillo, Torralbilla, Mainar, Nombrevilla, Villarroya del Campo, Romanos, Badules and Burbáguena.

The eight parks -which will generate more than 1,000 jobs in their construction phase and 50 in the operation and maintenance phase-, will evacuate the electricity generation in the new 400-kilovolt electric station, which is being built by Red Eléctrica de España in Cariñena. An infrastructure that is key to advancing the electrification of the Zaragoza-Teruel-Sagunto railway axis.

Forestalia already has the necessary agreements for the owners of the land where the eight photovoltaic plants will be installed, whose construction will begin as soon as the administrative authorizations are obtained.

For the moment, the president of Forestalia, Fernando Samper, has handed over the projects to the representatives of the seven municipalities where the plants will be installed during a meeting held in Romanos and which was attended by the president of the Provincial Council of Zaragoza (DPZ), Juan Antonio Sánchez Quero, and the president of the Campo de Daroca region, Ascensión Giménez.

If you want to find more details about Forestalian and to read the latest business news in the world, download for free the Born2Invest mobile app.

Projects in Teruel could total about $2.9 billion (€2,4 billion) investments

The group of Aragonese origin will develop half of its new projects, 3,000 MW, in 66 photovoltaic and wind farms in the province of Teruel. Only this “Teruel Plan” requires an investment of $2.9 billion (€2,4 billion).

SEE ALSO  Co-working: The office space trend that keeps expanding

To face all these investments, Forestalia will reinforce its role as promoter and developer and will choose the best allies to carry out the actions. In two of the wind projects currently in service, called Goya and Phoenix, the Forestalia group maintains a considerable percentage of capital.

For the general director of Forestalia, Carlos Reyero, “if the planned schedule of financial closings is met, the 6,000 megawatts will be under construction in 2021.” The manager also stressed that the legislation is an “opportunity” for Aragon to establish itself as one of the leading autonomies in the renewable energy sector and an “unrepeatable opportunity” to create employment in rural areas.

These photovoltaic plants are part of the 6,000 MW package of renewable energies projected by the company throughout the Aragonese community.

Recently, Forestalia and the CIP infrastructure fund announced an agreement to develop more than 1,000 MW of wind power within this package.

The development of the 6,000 MW is estimated to generate around 25,000 jobs in the construction phase of the photovoltaic and wind farms, and almost a thousand stable jobs for the exploitation phase over the next three decades.

With these investments, the Aragonese territory will receive almost $1.2 billion (€1 billion) from the collection of local and regional taxes and fees throughout the life of the installations.

__

(Featured image by meipakk via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

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.