Iberdrola obtains production licence for construction of Portugal’s largest wind farm, with around €350-million investment

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Link Securities | Iberdrola (IBE) has obtained the production licence from Portugal’s Directorate General of Energy and Geology (DGEG), marking another step towards the construction of Portugal’s largest wind farm, Bolsamanía reported on Monday.

The project, located in the districts of Vila Real and Braga in the north of the country, which combines wind and hydro power, has a total investment of around €350 million. With an installed capacity of 274 MW and a production capacity of 601 GWh per year, equivalent to the consumption of 128,000 homes, this infrastructure will be integrated into the Tâmega Power Plant System (SET). The project, which will benefit from the existing connection point in Ribeira de Pena, will sign a long-term supply contract, also known as a power purchase agreement (PPA). This project, which consists of the Tâmega Norte and Tâmega Sul wind farms, is part of an agreement signed with the Norwegian sovereign wealth fund, managed by Norges Bank Investment Management.

Meanwhile, elEconomista.es reported that Avangrid, a subsidiary of Iberdrola in the United States, and energy company Portland General Electric (PGE) have agreed with META (META-US), the parent company of Facebook, and data centre firm QTS to sell energy produced by the Tower Solar farm to supply renewable energy to a data centre complex under construction in Oregon (USA). The agreement, which will be made through a long-term purchase and sale agreement (PPA), will supply the facility with the energy produced by the 120 MWac (alternating current) photovoltaic farm. Tower Solar is under construction in Morrow County, Oregon, in partnership with QTS and META.

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