MTX Renewables, a subsidiary of the Czech group MTX, has started the construction of a hybrid renewable energy project in Andalusia together with the German fund Aquila Capital. The preparation of the Mimosa project, one of the largest of its kind in Spain, has taken five years. Completion and commissioning is expected in 2027.

The two partners will invest 1 billion euros in this large-scale project, which will have a wind capacity of 370 megawatts, plus 360 megawatts of photovoltaic panels and batteries with the capacity to store 350 megawatts. A total installed capacity of 1.1 gigawatts will amount to an annual production of 1,500 gigawatt hours.

High yields
According to the Czech company, owned by industrialist Petr Otava, Spain was chosen for this project because of its favourable climatic conditions, which guarantee high energy  yields. The MTX Group, with 31 companies mainly focused on trading and processing metals and energy commodities, initially set up the renewables division to produce energy for its own factories.

MTX Renewables CEO Ondřej Douša (pictured) describes his mission as the greening of the group's companies. Among the projects seeking energy self-sufficiency, one initiative has been incorporated in Andalusia that the company considers key to its plans to reduce its carbon footprint and sustainable development.

Geographically suitable locations
Otava explains that investments in renewable resources "in geographically suitable locations perfectly complement our other activities, which we perform through the MTX Renewables energy division in the Czech Republic with non-distributed connection directly to our factories. This way we are fulfilling our strategy of increasing the added value of our in-house manufactured products with electric power."

By 2028, the MTX Group plans to invest an additional 300 million euros in renewable resources and in the greening of the Group's industrial companies. In the case of the joint project with Aquila Capital, the investment is financed by banks such as the European Investment Bank, BNP Paribas, KfW IPEX, Banco Sabadell, Intesa SanPaolo, ING, NatWest and Santander.

^{Photo: MTX}