24 Jan 2023

Cepsa Will Develop 3 Solar Projects Totalling 400 MW in Central Spain

24 Jan 2023  by   
The Spanish oil and gas firm Cepsa will develop three solar PV projects totalling 400 MW in the region of Castilla-La Mancha, in central Spain. Cepsa will build the solar plants, which will require an investment of €280m, in the towns of Campo de Criptana and Arenales de San Gregorio (Ciudad Real), with construction expected to begin in 2025. Once operational, these projects are expected to produce 840 GWh/year of electricity, equivalent to nearly one third of the domestic consumption of Castilla-La Mancha. The production of this renewable energy will avoid the emission of 336 ktCO2/year.
With these new plants, solar PV projects developed by Cepsa in Castilla-La-Mancha will amount to 1.2 GW and represent an investment of more than €840m. As part of its new 2030 strategy unveiled in March 2022, Cepsa plans to invest between €7bn and €8bn by 2030, of which more than 60% will be allocated to sustainable businesses as of 2023. The company plans to develop a portfolio of solar and wind projects with a capacity of 7 GW. In addition, Cepsa plans to operate 2 GW of hydrogen capacity by 2030.
As of end-2021, solar accounted for 15% of Spain’s installed capacity with 17 GW and 10% of its power generation with 27 TWh. According to preliminary estimates, 3.4 GW of new solar PV capacity were added in 2022, with solar PV generation rising by 33%.


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