Three French companies, Engie, Mirova and BNP Paribas, have signed an agreement to finance a new photovoltaic energy plant in Palma del Río (Cordoba). The construction of the Séneca project began in 2018 and is expected to end soon and come on line in the last quarter of the year, with an installed power of 50 megawatts.
This is the third time that Engie and Mirova have joined forces to fund a renewable energy project in Spain, after previously participating in two major 300 and 340 megawatt wind farm projects. These projects were the first in which Engie launched its new development model in the sector in Spain to improve their efficiency and profitability.
Third renewable energy auction
The Séneca project came about as a result of the third renewable energy auction in Spain, which in July 2017 allocated a total of 8000 MW in photovoltaic and wind technology. On that occasion Engie was awarded 50 MW of photovoltaic technology, which will now be deployed in Palma del Río.
The new photovoltaic plant will occupy a site of around 100 ha in this location in Cordoba province. When it is fully operational it will generate around 100 gigawatt hours per year of renewable energy production, sufficient to supply approximately 50,000 homes.
Construction, operation and maintenance
Engie will not only be involved in the Séneca project as an investor, but will be responsible through its subsidiaries in Spain for its construction, and will provide employment for almost 250 people during this phase. In addition, it will be responsible for the operation and maintenance services throughout its useful life and will act as its representative in the Spanish electricity market.
Loreto Ordóñez, CEO of Engie Spain, explains: “The Séneca project is a further step toward consolidating Engie's position as a key partner in the Spanish energy market, covering the whole value chain in renewable energies”.
Biomass-based heat plant
Engie was also recently awarded the construction and operation of another project: a new biomass-based heat plant in Pamplona that will supply 4,500 homes and several public buildings in Pamplona (Navarre). The French company thus consolidates its position in another subsector of renewable energy.
The infrastructure will represent an investment of over 12.5 million euros, of which 6.5 million will be provided by the public company Nasuvinsa for the civil engineering works, urban landscaping and distribution networks. Half this amount will come from the 2014-2020 European Regional Development Fund Operational Program in Navarre. Engie will supply the remaining six million euros in two phases, as the concessionaire of the plant for a period of 25 years.
Last updated: 07|10|2019