JP Morgan’s Asset Management arm will take a position of control (over 50%) via its investment vehicle Sonnedix in a 660 MW photovoltaic project in Spain. The investment will be for some 500 million euros.
Cepsa wants to open up a gap for itself in the sector for commercialisation of residential electricity and gas, with the aim of grabbing a 1o% share over the coming years. It will thus become one of the four main operators along with Endesa, Iberdrola or Gas Natural Fenosa.
Basque wind turbine manufacturer Siemens Gamesa will supply the turbines for Cepsa’s first wind farm in Jerez de la Frontera (Cádiz), the company said on Tuesday.
Spanish energy Cepsa has acquired the rights to develop its first wind farm in Jerez (Cádiz) for an investment of 35 million euros. This the company’s first foray into the wind energy sector and diversifies its energy business. Cepsa is Spain’s fourth largest industrial group in terms of turnover.
While last week’s auction of installation licences for 3.000 MW of renewable energy was very successful, many companies ended up not being awarded anything. So the government has decided to hold another auction with similar characteristics. But this time it will only be for renewable and photovoltaic energy.
The Energy Ministry this week held its macro-auction to award installation licences for up to 3.000 MW of renewables plants in Spain. The auction represents an investment of over 3 billion euros and Forestalia, Gas Natural and Endesa ended up with the majority of the MW.
Spain has lost its first case in an international arbitrage court, namely the World Bank’s Ciadi, related to the cuts applied to the renewables remuneration from 2010. The ruling is in favour of the UK Company Eiser Infrastructure Ltd. and its Luxembourg subsidiary Energy Solar Luxembourg,
Dániel Stemler | According to the latest report by the International Renewable Energy Agency (IRENA), last year was a record year for renewables as the “global renewable energy generation capacity increased by 161 gigawatts (GW) in 2016”.
Mari Pinardo | Spain has the capacity to produce much more electric energy than we can consume. On average we use 35,000 megawats and have 100,000 installed. So why is our electricity bill higher than our European partners?
Dániel Stemler | According to Eurostat, the EU’s statistical office, the union is on track to meet its 2020 renewables target. Spain’s share of renewables in gross final consumption of energy is 16.2% share, so only 3.8% of its 20% target.